Bishkek, Kyrgyz Republic, August 12, 2008 the IFC, a member of the World Bank Group, has signed a loan agreement with the Kyrgyz Investment and Credit Bank to expand its micro, small, and medium enterprise lending operations in less developed areas of the Kyrgyz Republic. IFC’s $5 million loan will also finance projects in agriculture sector.
The loan will create financing options for underserved markets in the Kyrgyz economy, especially in remote cities and towns. Increasing access to finance in these areas is crucial for sustainable development of the country’s private sector, as well as for improving economic development and reducing poverty.
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IFC is a shareholder in the Kyrgyz Investment and Credit Bank with an equity stake of 17 percent. Other stakeholders include the Aga Khan Fund for Economic Development….
Ismailimail 