Kyrgyz Republic

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

26 Feb 2002



PSD disclosed:

16 Jun 2002

Project Description

Within a framework structure, the EBRD would extend credit lines directly to selected Kyrgyz partner banks, which would on-lend the funds exclusively to micro and small enterprises (MSEs). To enable Kyrgyz banks to successfully engage in MSE lending throughout their branch network with the help of specialised technical assistance for training and institution building; attain broad regional and target group coverage by providing micro and small enterprises with reliable access to financing.

Transition Impact

High transition impact is expected due to institution building and strengthening of participating banks; provision of continuous access to reliable finance to micro and small enterprises including those in remote, rural and economically depressed regions; and the Facility would provide a model to the local banking sector to engage in MSE Finance.

The Client

The MSE Finance Facility will focus on selected local commercial banks, which meet standard eligibility criteria. It is envisaged that the Facility will start with two banks: AKB Kyrgyzstan and Ineximbank. The selection process for additional banks will be finalised in 2002 while it is intended that the entire Facility will involve up to five partner banks.

EBRD Finance

Up to US$ 7 million (€7.7 million).

Project Cost

Estimated US$ 15.3 million framework MSE Finance Facility co-financed by contributions from the governments of Switzerland and the United States as well as from the International Finance Corporation.

Environmental Impact

The banks will follow the EBRD's Environmental Procedures for Small and Micro Loans in relation to all sub-loans financed through the credit line. In implementing these procedures, the banks will assess potential environmental issues associated with sub-projects, which are required to comply, at a minimum, with local/national health, safety, environmental and public consultation requirements.

Technical Cooperation

€1 million from the European Commission. It is currently envisaged that further €1 million will be required to support the regional expansion and entrance of additional participating banks during 2003.

Company Contact


Business opportunities

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