By Anton Usov
The European Bank for Reconstruction and Development (EBRD) is contributing to sustainability of small and medium-sized enterprises (SMEs) in the Kyrgyz Republic by providing a senior loan of up to US$5 million to Kompanion Bank for on-lending to domestic SMEs.
The largest provider of SME loans in the Kyrgyz Republic and the EBRD’s client since 2007, Kompanion Bank will use the proceeds to support businesses across the country. Long-term loans will help domestic SMEs cope with negative effects caused by the COVID-19 pandemic.
Local SME sector is very important for the country as it employs tens of thousands of people, including those living in remote mountainous areas, and is responsible for almost 40 per cent of GDP
To date, the EBRD has invested almost €800 million through 202 projects in the Kyrgyz Republic, with the majority of investments supporting private entrepreneurship.
