By Anton Usov
The European Bank for Reconstruction and Development (EBRD) is providing support to small and medium-sized enterprises (SMEs) in the Kyrgyz Republic by offering new funds to the country’s leading private lender Kompanion Bank.
Kompanion Bank will use the loan from the EBRD of up to US$ 10 million to support its SME lending activity and help expand its market outreach.
Kompanion Bank, which has been the EBRD’s client since 2007 and is one of the most active lenders to SMEs in the Kyrgyz Republic, will channel much-needed funds to small businesses across the country. Kompanion Bank plays a vital role in the national economy by providing jobs to almost 1 million people and contributing to over 35 per cent of the country’s GDP.
To date, the EBRD has invested €911 million(US$991.33million) in the Kyrgyz Republic through 231 projects, with most of those funds supporting private entrepreneurship.
