Provision of a senior loan under the Financial Institution Framework (FIF) in the total amount of up to USD 2m equivalent to be disbursed in local currency (LCY) in two equal tranches of USD 1m each, with the second tranche to be provided on an uncommitted basis. The commitment of the second tranche will be delegated to management.
The project aims at supporting LCY lending to eligible Kyrgyzstan micro and small enterprises (MSEs) in accordance with FIF.
ETI score: 60
Competitive: The loan will support BF in growing its MSE portfolio and expanding access to LCY finance to sub-borrowers located primarily in the country's remote regions with a focus on attracting new clients.
Resilient: The project aims to ensure prudent lending practices and adequate portfolio quality.
BAILYK FINANCE MICROCREDIT COMPANY LLC
Bailyk Finance ("BF", "The company") is currently the third largest micro-finance institution in Kyrgyzstan. As of end-March 2021 BF reported net loans of USD 22.9m, total assets of USD 27.1m, equity of USD 5.2m (under IFRS) and regulatory CAR of 18%.
EBRD Finance Summary
Total Project Cost
Additionality sources: (i) EBRD offers medium term financing that is not available on the market from commercial sources on reasonable terms and conditions, (ii) EBRD offers local currency financing on terms not readily available in the market.
Environmental and Social Summary
Categorised FI (2019 ESP). BF will be required to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9, adopt and implement the EBRD's E&S Risk Management Procedures for SME and Micro loans and submit Annual Environmental and Social Reports to the Bank.
Technical Cooperation and Grant Financing
Company Contact Information
+996 701 511 761
48a, Abay str., Bishkek
PSD last updated
22 Jul 2021
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Independent Project Accountability Mechanism (IPAM)
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