Kyrgyz Republic

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

05 Oct 2021



PSD disclosed:

20 Oct 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$ 3.25 million to Demir Kyrgyz International Bank (DKIB) under the KyrSEFF II facility. The proceeds will be on-lent to sub-borrowers for energy and water efficiency investments. The Project will further strengthen SME competitiveness and promote the financial sector development in particular through local currency lending. 

Project Objectives

The transaction supports investments in high-performing energy efficiency technologies, materials and solutions undertaken in, or in relation to, privately-owned residential/MSME dwellings or buildings in the Kyrgyz Republic. Sub-projects are selected according to technical and financial eligibility criteria set forth in the policy statement for KyrSEFF. 100 per cent of the proceeds will be used for Green Economy Transition investments.

Transition Impact

ETI score: 100

The project contributes to following TI qualities:

-   Green: The project will support the expansion of energy and water efficiency lending to households and private sector and contribute to positive demonstration effects of GET projects.

Competitive: The project will contribute towards building a more competitive financial sector through developing the internal capacity of the PFIs for financing energy and water efficiency loans.   

Client Information


DKIB is one of the leading commercial banks in the Kyrgyz Republic ranking 5th in terms of assets and 4th in terms of customer accounts. As of the end of 2020, the bank's market shares stood at 9.1 per cent and 11.4 per cent in terms of banking assets and customer accounts, respectively, with the balance sheet size of US$ 311 million.

EBRD Finance Summary

USD 3,250,000.00

Senior loan of up to US$ 3.25 million (€2.7 million) or equivalent in KGS with a 4 year tenor including a 1 year grace period; The client will be provided with an option to drawdown either in synthetic KGS or US$.

Total Project Cost

USD 3,250,000.00


The Bank is additional because of its:

-      Terms: At present, there are no private investors that can combine (1) the Bank's relationships with partner banks in the Kyrgyz Republic, (2) its experience with similar energy and water efficiency facilities and (3) tailored technical consultancy services into a commercial financing scheme such as KyrSEFF II in order to realise energy efficiency programmes in the country.

-      Attributes: the EBRD is one of the very few institutions providing long term local currency funding in the country and has significant experience in financing energy efficiency programmes using financial intermediaries.

Conditionalities: Clearly defined eligibility criteria for the sub-borrowers under credit line will ensure that funds are directed to the intended group of borrowers and contribute towards achieving anticipated transition impact.

Environmental and Social Summary

DKIB is an existing client and has provided good quality Annual E&S Reports to the Bank to date. DKIB will be required to continue to implement the environmental and social risk management procedure for Micro, SME and Corporate loans; continue to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9, including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019 and submit Annual E&S Reports to the Bank. As applicable, sub-loans under the KyrSEFF facility will need to comply with the E&S Eligibility Procedures for wind, hydro, solar, geothermal or biomass projects.

Technical Cooperation and Grant Financing

Assistance provided under the KyrSEFF II with marketing of sub-loans and assessment of sub-projects from technical/engineering aspects, funded by EU-IFCA.


Company Contact Information

Nurlan Esenaliev
245 Chui Avenue, Bishkek, 720001, Kyrgyz Republic

Implementation summary

PSD last updated

20 Oct 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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