On February 12, an agreement was signed in Bishkek between the Ministry of Finance of the Kyrgyz Republic and the Asian Infrastructure Investment Bank, under which a concessional loan of 50 million US dollars was allocated for the State Development Bank of the Kyrgyz Republic.
The Ministry of Finance reported that the funds received will be used to support micro, small, and medium enterprises engaged in the implementation of "green" and resource-saving initiatives aimed at:
* reducing energy consumption and operational costs;
* introducing energy-efficient equipment;
* developing renewable energy sources;
* modernizing production processes;
* reducing negative environmental impact.
The implementation of this project is expected to increase investments in sustainable initiatives of MSMEs, enhance the technological level of companies, strengthen the competitiveness of local businesses, create new jobs, and contribute to achieving national climate and social goals.
The effectiveness of the project will be ensured through the joint efforts of the State Development Bank and the Ministry of Finance of the Kyrgyz Republic. The main focus is on increasing entrepreneurs' access to long-term financing and supporting the modernization of the economy to achieve sustainable growth for the country.
