BISHKEK, Kyrgyzstan, October 30. The Kyrgyz Investment and Credit Bank (KICB) and the European Bank for Reconstruction and Development (EBRD) have signed an agreement to provide the equivalent of $5 million in local currency loans to support micro, small, and medium-sized enterprises (MSMEs) in Kyrgyzstan, Trend reports via EBRD.
The initiative aims to expand access to long-term financing, promote entrepreneurship, and contribute to sustainable economic growth. By enhancing the availability of credit to MSMEs, the program will help create jobs, strengthen the private sector, and boost economic activity across the country’s regions.
KICB and the EBRD have been cooperating for more than two decades on projects designed to stimulate small business development in Kyrgyzstan. As one of the country’s leading financial institutions, KICB actively uses international credit lines to finance projects in key economic sectors, supporting business growth and regional development.
The partnership also builds on ongoing joint initiatives, including the Women in Business program, which promotes female entrepreneurship under the “Mykty Aiym” project, and participation in the Kyrgyz Republic’s Green Economy Financing Facility (KyrSEFF).
The Kyrgyz Investment and Credit Bank (KICB), Kyrgyzstan's leading commercial bank, was founded in 2001 and offers a wide range of financial services to individuals and businesses. The institution allocates long-term capital to key industries like agribusiness, manufacturing, and light industry to boost the economy. This project is a collaboration between the Aga Khan Fund for Economic Development (AKFED), International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), and Deutsche Investitions- und Entwicklungsgesellschaft.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel