FIF - Kompanion MSME Loan IV


Kyrgyz Republic

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

21 Jun 2022



PSD disclosed:

22 Jun 2022

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$ 5.0 million equivalent in local currency to Closed Joint-Stock Company Kompanion Bank based in the Kyrgyz Republic under Financial Intermediaries Framework (FIF) for financing local private MSMEs. 

Project Objectives

The project contributes to the objectives of the Financial Intermediaries Framework (FIF). FIF seeks to (i) foster SME competitiveness by increasing the availability of financing and (ii) contributing to the competitiveness of financial institutions by enabling innovation in strategy, products, processes and marketing related to MSME lending.

Transition Impact

ETI score: 60

The project will contribute to the competitive and resilient Transition Impact qualities. The project will support Kompanion Bank's lending to private MSMEs in Kyrgyzstan by a multiple of the EBRD's funding with the focus on regional outreach and attraction of new MSME clients, while maintaining sound underwriting standards.

Client Information


Kompanion Bank is a major SME lender in the Kyrgyz Republic. It is ranked 10th by total assets with a market share of 3.3 per cent. The bank is majority-owned by Mercy Corps (USA).

EBRD Finance Summary

USD 5,000,000.00

US$ 5.0 million equivalent.

Total Project Cost

USD 5,000,000.00


Additionality will be achieved through a combination of: (i) much-needed medium-term financing in local currency; (ii) risk mitigation and (iii) standard-setting.

Environmental and Social Summary

Category FI (2019 ESP). Kompanion Bank is a long-standing client of the Bank that has been performing well in terms of applying the Bank's PRs and reporting in a timely fashion, the most recent report was submitted in June 2022. The client will continue to apply PRs 2 and 4 to their internal operations and PR9, coupled with the E&S Procedure for Corporate SME and Micro Loans. Under the 2019 policy, the client will require to take note of the Referral List and liaise with the EBRD in any transactions involving activities on that list, and also take note of the updated E&S Exclusion List.

Technical Cooperation and Grant Financing

Kompanion bank will benefit from TC support with the design and development of a new credit scoring system for MSME loans through an online channel. Increased availability of funding to MSMEs will support market expansion and greater competition in the sector. Funding Souce: EU IFCA or SSF. TC funding of up to € 55,000. Cost sharing of up to 20 per cent cash contribution of total assignment budget was discussed and agreed with Kompanion bank. Exact budget will be finalised following the diagnostic study to be carried out by the Consultant.

Company Contact Information

Saltanat Dzhantemirova
62, Shota Rustaveli St.,720044, Bishkek, Kyrgyzstan

PSD last updated

22 Jun 2022

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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