Kyrgyz Republic

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

26 Feb 2002



PSD disclosed:

16 Jun 2002

Project Description

Within a framework structure, the EBRD would extend credit lines directly to selected Kyrgyz partner banks, which would on-lend the funds exclusively to micro and small enterprises (MSEs). To enable Kyrgyz banks to successfully engage in MSE lending throughout their branch network with the help of specialised technical assistance for training and institution building; attain broad regional and target group coverage by providing micro and small enterprises with reliable access to financing.

Transition Impact

High transition impact is expected due to institution building and strengthening of participating banks; provision of continuous access to reliable finance to micro and small enterprises including those in remote, rural and economically depressed regions; and the Facility would provide a model to the local banking sector to engage in MSE Finance.

The Client

The MSE Finance Facility will focus on selected local commercial banks, which meet standard eligibility criteria. It is envisaged that the Facility will start with two banks: AKB Kyrgyzstan and Ineximbank. The selection process for additional banks will be finalised in 2002 while it is intended that the entire Facility will involve up to five partner banks.

EBRD Finance

Up to US$ 7 million (€7.7 million).

Project Cost

Estimated US$ 15.3 million framework MSE Finance Facility co-financed by contributions from the governments of Switzerland and the United States as well as from the International Finance Corporation.

Environmental Impact

The banks will follow the EBRD's Environmental Procedures for Small and Micro Loans in relation to all sub-loans financed through the credit line. In implementing these procedures, the banks will assess potential environmental issues associated with sub-projects, which are required to comply, at a minimum, with local/national health, safety, environmental and public consultation requirements.

Technical Cooperation

€1 million from the European Commission. It is currently envisaged that further €1 million will be required to support the regional expansion and entrance of additional participating banks during 2003.

Company Contact


Business opportunities

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Text of the PIP

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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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