European Bank for Reconstruction and Development (EBRD) is increasing the availability of financing to private businesses in the Kyrgyz Republic with a new credit line for on-lending to micro, small and medium enterprises. It is providing a $5m long-term loan to Kyrgyz Investment and Credit Bank to help the bank diversify its funding base and develop further its portfolio of micro, small and medium enterprises credits.
The EBRD loan will enable Kyrgyz Investment Bank to finance investments and working capital of Kyrgyz businesses with medium and long-term loans, thus addressing the lack of credits available to micro, small and medium-sized companies in the country.
Kenji Nakazawa, head of EBRD office in Kyrgyz Republic, said: “In the current challenging economic environment small businesses are particularly affected, facing limited access to the much needed financing. This transaction reinforces the EBRD’s commitment to support the development of the private businesses in the Kyrgyz Republic as well as to strengthen the financial sector in the country.”
