BISHKEK (Kyrgyzstan), August 15 (RIA Novosti) - President Vladimir Putin said Wednesday Russia could invest up to $2 billion in Kyrgyzstan if the Central Asian state provides viable projects.

Meeting with Kyrgyz President Kurmanbek Bakiyev ahead of a summit of the Shanghai Cooperation Organization (SCO) due Thursday, Putin said: "We are ready to set out requirements to guarantee a considerable investment in the Kyrgyz economy. We are talking about $2 billion."

"We only need viable projects. We are ready to ensure the financing of such projects," Putin said.

The SCO comprises Russia, China, Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan, and has Iran, India, Pakistan and Mongolia as observers.

The group was established 11 years ago to address extremism in the region, but has moved to tackle energy and economic cooperation issues recently. The organization is also seen as a counterbalance to U.S. influence in the region.

Kyrgyzstan has hosted a U.S. airbase since its antiterrorism war in Afghanistan began in 2001. Uzbekistan ousted a U.S. base in 2005 after the Russian and Chinese-dominated group demanded a deadline for the withdrawal of United States' Uzbek and Kyrgyz bases.

Earlier reports said the base issue could be raised at the summit.