The Cabinet instructed the Ministry of Finance to issue government bonds worth 60 billion soms for the recapitalization of the state bank and the State Investment Corporation. » Gazeta.kg

On March 2, 2026, the Cabinet of Ministers issued Order No. 127-t, which outlined measures aimed at developing the securities market, increasing the resource component of the republican budget for 2026, and strengthening the financial stability of state banks.

The Ministry of Finance of the Kyrgyz Republic is instructed, in cooperation with the relevant committee of the Jogorku Kenesh:

to increase the resource component of the budget for 2026 by utilizing the profits of the National Bank of the Kyrgyz Republic amounting to 16 billion 534 million 736 thousand 497.99 soms;

to allocate 60 billion soms to increase the authorized capital of OJSC "Ayil Bank";

to ensure the receipt of 60 billion soms through the issuance and placement of state treasury bonds (STBs) in soms with a 15-year maturity, a coupon rate of 3%, and repayment of the principal amount in a lump sum at the end of the term;

to direct 35 billion soms from the funds received from the placement of STBs to increase the authorized capital of OJSC "State Mortgage Company";

to classify borrowings from the issuance of STBs as part of the state internal debt and make the necessary changes when preparing amendments to the law on the republican budget for 2026 and the planned years 2027–2028.

OJSC "Ayil Bank" is recommended to invest 60 billion soms in state securities and ensure annual growth in net profit over 15 years, with subsequent redistribution of the entire amount of net profit as dividends to the republican budget.

The State Agency for Management of State Property is instructed to ensure the increase of the authorized capital of "Ayil Bank," following the directives of the order when distributing profits.

Additionally, the Ministry of Finance of the Kyrgyz Republic is instructed to allocate 50% of the dividends received in the budget annually for 15 years towards reducing the state debt, while the remaining 50% is to be used to increase the authorized capital of OJSC "Ayil Bank."