KICB has received a loan as part of the Kyrgyzstan Sustainable Energy Financing Facility
The 34th EBRD Annual Meeting and Business Forum was held in London (United Kingdom) from 13th to 15th of May, 2025. This is a significant business event that brought together leaders and development partners from all regions. KICB also took part in the event as a partner and participant of the Kyrgyzstan Sustainable Energy Financing Facility III (KyrSEFF III) and has signed loan agreement for 2.6 million euros.
Francis Malige, Head of Financial Institutions Business Group, EBRD and Arif Ali, CEO of KICB
Kyrgyzstan Sustainable Energy Financing Facility (KyrSEFF) provides financing and advice to individuals and businesses to implement energy- and resource-saving projects. The goal of the program is to improve home comfort and business competitiveness through highly efficient technologies and practices.
Annual meeting the 34th EBRD Annual Meeting and Business Forum, London, May 2025
Under the agreement, EBRD provides a loan to KICB for on-lending to private borrowers. The funds will be used for climate change mitigation and adaptation investments in line with the EBRD’s green economy transition approach – a comprehensive strategy to reduce greenhouse gas emissions and improve energy efficiency.
Lending under the KyrSEFF program will be directed towards the insulation of residential and industrial premises, optimization of the use of water and energy resources, as well as a renewable resource conservation system (installation of solar systems, solar panels, drip irrigation, rainwater collection systems and other resource conservation systems) and other purposes consistent with the main objective of the program.
KICB was established in 2001 on the initiative of the Kyrgyz Republic Government, with participation of international financial institutions: the Aga Khan Fund for Economic Development (AKFED), European Bank for Reconstruction and Development (EBRD), German Investment and Development Corporation (DEG), International Finance Corporation (IFC) and German Development Bank (KfW). The purpose of creating KICB was to promote the commercial sector development in Kyrgyz Republic.
Elena Bubnova, KICB Management Member, Kazuhiko Koguchi, Secretary General of EBRD, Shaffiq Dharamshi, Deputy Chairman of the KICB Board of Directors, Arif Ali CEO of KICB. London, May 2025, 34th Annual Meeting of EBRD
KICB’s participation in the EBRD Annual Meeting provided a valuable opportunity to engage with partners and renowned global finance experts. Notably, EBRD Secretary General Mr. Kazuhiko Koguchi played a direct role in KICB’s incorporation during his tenure with the EBRD’s Central Asia management team.
Reference:
Kyrgyz Investment and Credit Bank CJSC (KICB) was established in 2001. The authorized capital is US Dollars 23 million. Bank has 55 branches/subbranches throughout the country, providing a full range of banking services. License NBKR 046. www.kicb.net
European Bank for Reconstruction and Development (EBRD) is an international financial institution. It works in three continents, helping countries to transition to successful market economies. The EBRD's approach combines financing, expert support and legislative reform, ensuring long-term positive changes. Since 1991 EBRD has launched more than 7400 projects with a total investment of over Euro 210 billion.