Eurasian Development Bank opened a $5-million credit line to support small business in Kyrgyzstan

Almaty. August 8. Silkroadnews – The Eurasian Development Bank has opened a $5-million credit line to support small business in Kyrgyzstan, Kyrgyz Telegraph Agency (KyrTAG) reports with reference to the EDB press center on Tuesday.
The Eurasian Development Bank (EDB) and OJSC “Aiyl Bank” signed a loan agreement providing for funding the small and medium-sized enterprises in the Kyrgyz Republic.
According to the agreement, a loan of $5 million will be provided in several tranches. Each tranche’s term is 3 years. Customers will be selected following the criteria agreed with the EDB.0
The EDB managing director Dmitry Ladikov-Roev said they are pleased to continue cooperation with Aiyl Bank and consider it as a reliable partner in implementing the project to contribute to build favorable conditions for the sustainable development of entrepreneurship and a competitive environment in the Kyrgyz Republic.
“Our previous experience of cooperation with the EDB has been productive. I hope, we will also have a successful work on the current credit line and our loans will boost a development of small and medium-sized businesses in Kyrgyzstan”, the agency quoted Gulchekhra Kamchibekova, deputy chairman of the board of Ayl Bank, saying.
To remind, in November 2014, the EDB provided OJSC Ayil Bank with a $5 million credit under the microfinance program that allowed successful financing of more than 300 projects in the manufacturing and trade sectors.