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.
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.
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
KYRGYZ INVESTMENT AND CREDIT BANK CJSC
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
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
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
PSD last updated
24 Jun 2021
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