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- EBRD lends US$ 8 million to FINCA Bank Kyrgyzstan
- US$ 4 million provided under Women in Business programme for Central Asia
- US$ 4 million to be allocated under Green Economy Financing Facility III
The European Bank for Reconstruction and Development (EBRD) is supporting the development of small businesses owned or led by women and the deployment of green technologies in the Kyrgyz Republic by providing a financial package of US$ 8 million (€ 7.6 million) to the country’s major microlender FINCA Bank Kyrgyzstan (FINCA).
The package will consist of a US$ 4 million loan extended under the EBRD’s Women in Business (WiB) programme for Central Asia, which is supported by the Women Entrepreneurs Finance Initiative.
The remaining US$ 4 million will be provided under Green Economy Financing Facility III (KyrSEFF III), approved by the Bank’s shareholders at the end of 2022. KyrSEFF III is helping to improve energy and resource efficiency of local small and medium-sized businesses. The funds will also support their climate resilience and adaptation, help to reduce pollution and promote the sustainable use of water.
Operational in the Kyrgyz Republic since 1995, FINCA is part of FINCA Impact Finance (FIF), a worldwide network of leading social-impact microfinance institutions.
The EBRD has been active in the Kyrgyz Republic since 1992, investing over €1 billion through 257 projects mostly in sustainable infrastructure and private sectors.