Project Description
Transition Impact
The project supports an increase in the private sector financing available through the banking system and facilitates new investments. The introduction of term lending and other corporate services demonstrates to the existing local banks the potential in this area.
The presence of the EBRD and other institutional shareholders encourages other bank investors into the market.
The development of skills in the local management team creates a core pool of expertise in the banking system, which helps in time to improve the level of skills in other banks.
The Client
KICB is the fifth largest private bank in the Kyrgyz Republic by total assets, with 6.5% of total banking sector assets and 9.6% of net loans.
EBRD Finance
The initial investment of USD 1.4 million was disbursed in June 2001. The proposed capital increase is expected to occur in December 2006.
Project Cost
USD 1.7 million (including capital increase)
Environmental Impact
KICB is already implementing environmental procedures satisfactory to the EBRD. KICB does not finance activities listed on the EBRD’s environmental exclusion list and submits environmental report to the EBRD annually.
In relation to the capital increase, KICB will be required to continue to implement the procedures across all its operations, to report annually on environment, health and safety matters to the EBRD.
Technical Cooperation
USD 3.0 million, allocated from Japan, funded the start-up costs of KICB and the costs of expatriate management and banking experts for the first three years.
Company Contact
Bektur Aliev, KICB Chief Operations Officer, email: bektura@kicb.net
Business opportunities
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
Public Information Policy (PIP)
The PIP 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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP
