In the second quarter of 2026, the fund is expected to be launched, which will provide loans at a rate not exceeding 8-10% per annum, for a term of 7 to 10 years.
The planned annual financing volume will amount to at least 3-5 billion soms, which will allow supporting at least 500 SME projects, with the share of borrowers from the regions being no less than 50%.
“The establishment of the Som Fund is seen as an important step towards transitioning from short-term and expensive lending to more accessible, long-term, and predictable financial resources focused on investments, production modernization, and job creation. The formation of the fund will be based on mixed financing with the participation of the state, national development institutions, commercial banks, and international partners,” the Ministry of Economy reported.
Within the framework of the Som Fund's operation, mechanisms for guarantees and risk distribution, subsidization of interest rates on a competitive basis, as well as the development of leasing, factoring, and other alternative financial instruments for SMEs are envisaged. This will help reduce the cost of borrowing, extend loan terms, expand the share of investment loans, and enhance the financial stability of SMEs, reducing their vulnerability to changes in the macroeconomic situation and currency fluctuations,” the ministry added.
Reference:
In 2025, the weighted average interest rate on bank loans in soms was in the range of 19-20% according to data from the National Bank of Kyrgyzstan.
According to the methodology of the National Statistical Committee, businesses are classified into small and medium-sized enterprises based on the number of employees:
• in the sectors of agriculture, hunting, and forestry; fishing; mining and manufacturing; production and distribution of electricity, gas, and water; construction:
- small enterprises have up to 50 employees;
- medium enterprises have from 51 to 200 employees.
• for enterprises engaged in trade; repair of cars and household goods; hotel and restaurant services; transport and communications; financial services; real estate operations; education; healthcare and social services:
- small enterprises have up to 15 employees;
- medium enterprises have from 16 to 50 employees.
