EBRD supports SMEs in Kyrgyz Republic
The European Bank for Reconstruction and Development (EBRD) is providing financial of up to US$ 5 million (€4.3 million) to the Kyrgyz Investment and Credit Bank (KICB) to strengthen support for micro, small and medium-sized enterprises (MSMEs) across the Kyrgyz Republic, ebrd.com reports.
The financing, offered as a senior loan in synthetic Kyrgyz som, is designed to expand access to finance for MSMEs in the country.
This partnership with KICB, which started in 2000, reflects the EBRD’s commitment to fostering inclusive economic growth in the Kyrgyz Republic by empowering MSMEs, which form the backbone of the country’s economy.
The EBRD has been active in the Kyrgyz Republic since 1992, investing over €1 billion in the country through 277 projects, mostly in sustainable infrastructure and the private sector.
Earlier, it was reported that the EBRD would provide a senior loan of up to €5 million to the Global Export Company, one of the leading exporter of agricultural commodities in Uzbekistan.