Kyrgyz Investment and Credit Bank (KICB) (debt & equity)

Location:

Kyrgyz Republic

Project number:

4277

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

13 Jul 2000

Status:

Disbursing

PSD disclosed:

12 Jun 2000

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

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.