BISHKEK, Kyrgyzstan, December 3. The European Bank for Reconstruction and Development (EBRD) is allocating funds of up to $10 million to Kompanion Bank in Kyrgyzstan, Trend reports.
As per the EBRD, Kompanion Bank will utilize this loan to channel funds to small businesses across the country.
Having been an EBRD client since 2007, Kompanion Bank is among the leading lenders to small and medium-sized enterprises in Kyrgyzstan, directing crucial funds to these businesses nationwide. Notably, the bank's contributions are pivotal to the national economy, generating jobs for nearly 1 million individuals and contributing to over 35 percent of the country's GDP.
Currently, the EBRD's investments in Kyrgyzstan amount to 911 million euros across 231 projects, primarily supporting private entrepreneurship.
The EBRD contributed 41 million euros to Kyrgyzstan in 2022, the country's biggest funding amount since the EBRD gave it 46 million euros in 2019.
