FIF - CA WiB Programme - KICB


Kyrgyz Republic

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

22 Jun 2021



PSD disclosed:

24 Jun 2021

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The provision of a senior loan of up to US$ 2 million to Kyrgyz Investment Credit Bank (KICB), which will be will be the second transaction under the Central Asia WiB Programme in Kyrgyz Republic. The loan proceeds will be used for on-lending to women-led MSEs and help strengthen SME competitiveness. It will also support the development of the country's financial sector in particular via local currency lending. 

Project Objectives

As part of the CA WiB Programme, the WiB loan to KICB will contribute to women's economic inclusion by supporting women-led MSMEs' access to finance and provide business advisory and skills development services. Associated TC for the project will help KICB test and roll-out WiB products, and provide capacity building for specialised lending and monitoring. KICB will expand its lending operations to women-led MSMEs with a focus on reaching out to new clients, including in regions with relatively lower levels of financial intermediation.


Transition Impact

ETI score: 70

-   Inclusive: As part of the CA WiB Programme, the WiB loan to KICB will contribute to women's economic empowerment by supporting women-led MSMEs' access to finance and business advisory and skills development services. TC will support KICB to test and roll-out WiB products, and provide capacity building on specialised lending and monitoring. ASB activities will ensure transfer of skills at women-led MSME level.

-   Competitive: KICB will expand its lending operations to women-led MSMEs with a focus on reaching out to new clients, including in regions with relatively lower levels of financial intermediation

Client Information


Kyrgyz Investment Credit Bank ("KICB") is one of the leading commercial banks in Kyrgyz Republic  ranking 2nd in terms of assets, 4th in terms of loan portfolio and 2nd in terms of customer accounts. As of year end 2020, the bank's market share stood respectively at 12.2 per cent and 13.1 per cent in terms of banking assets and customer accounts, respectively, with balance sheet size of USD 429 million. 

EBRD Finance Summary

USD 2,000,000.00

Senior CA WiB loan of up to US$ 2 million (€1.7 million) equivalent in KGS (provided under SME LCY Programme); available in two tranches. 

Total Project Cost

USD 2,000,000.00


The proposed transaction is additional as it brings a new loan product to the market and endeavours to address several important objectives: broaden access to MSMEs through introduction of new financing product, promote investments in fixed assets and facilitate economic inclusion of female entrepreneurs. Local players, including KICB, have limited technical expertise and financial capacity to address these objectives without external support, in the form of technical assistance and loan financing on appropriate terms. Therefore, the Bank's financing and technical assistance is relevant and additional to the needs of the market as well as KICB.

Technical Cooperation and Grant Financing

TC: estimated US$ 350,000 in support of KICB (average TC amount per PFI under the Programme) and KICB in turn will be expected to make parallel contribution to the costs.

TC: provided by the Women Entrepreneurs Financing Initiative, a Trust Fund managed by the World Bank;

Non-TC: provided by i) the Women Entrepreneurs Financing Initiative ; ii) SME LCY Special Fund.

Company Contact Information

Bektur Aliev, CEO
+996 312 620 101

Implementation summary

PSD last updated

24 Jun 2021

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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