Why is the startup loan from the World Bank and the Asian Infrastructure Investment Bank issued at 8% when it used to be 0%? - Deputy » Gazeta.kg

At the meeting of the Committee of the Jogorku Kenesh, which took place on March 2, 2026, Deputy Bolot Saginayev raised the issue of the intention of the World Bank and the Asian Infrastructure Investment Bank to allocate $170 million to support startups and small businesses at an interest rate of 8% per annum. He noted that a similar program was previously implemented with a zero interest rate and inquired why the rate has now become comparable to commercial bank rates.

In response to this statement, Deputy Minister of Finance Nurbek Akzholov explained that the zero rate was in effect during the COVID-19 pandemic, when banks provided assistance to small and medium-sized businesses affected by the crisis.
“Currently, the economic situation in the country has improved, and the credit rating has increased, which has led to a reduction in the grant component. Loans are now provided on market terms, but still on preferential conditions,” the deputy minister noted.
Akzholov also clarified that the 8% annual rate is preferential and outlined the loan conditions:
- term — 5 years,

- without the need for collateral,

- without experience requirements (which is particularly relevant for startups),
This discussion took place as part of the consideration of the draft law “On Amendments to Certain Legislative Acts of the Kyrgyz Republic on Venture Financing” in the first reading.