KICB and EBRD sign agreement to finance micro, small and medium enterprises
KICB and the European Bank for Reconstruction and Development have signed an agreement to provide credit resources equivalent to USD 5 million in national currency under the programme to support micro, small and medium-sized enterprises.
The financing will be directed towards expanding MSMEs’ access to long-term credit resources, supporting entrepreneurship, and promoting sustainable economic growth. This initiative also contributes to strengthening the financial sector and fostering the development of private business, which plays a key role in job creation and increasing economic activity in the regions of the country.
Joint projects of KICB and the EBRD aimed at developing small and medium enterprises have been successfully implemented in Kyrgyzstan for over 24 years. As one of the leading banks in the Kyrgyz financial system, KICB utilizes credit lines from international financial institutions to finance projects across various sectors of the economy, thereby contributing to the country's development and supporting its economic growth.
It should be noted that the cooperation between KICB and the EBRD covers multiple areas, including the financing of major projects in Kyrgyzstan, support for the “Mykty Ayim” project under the “Women in Business” Programme in Central Asia aimed at developing women’s entrepreneurship in Kyrgyzstan, and participation in the Kyrgyz Sustainable Energy Financing Facility (KyrSEFF) programme.
The credit agreement was signed by Mr. Arif Ali, Chairman of the Management Board of KICB, and Mr. Matteo Patrone, Vice President of the EBRD
Reference:
CJSC Kyrgyz Investment and Credit Bank (KICB) was established in 2001. Its authorized capital amounts to USD 23 million. The Bank operates 55 branches across the country, providing a full range of banking services. KICB was the first bank in Kyrgyzstan to open correspondent accounts with Citibank (USA) and NBD (UAE). License of the NBKR - No. 046.
The European Bank for Reconstruction and Development (EBRD) was established in 1991 and operates across three continents, helping countries transition to successful market economies. Its unique approach combines financing, expert support, and legal reform, ensuring long-term positive change.