BAKU, Azerbaijan, February 24. The Board of the European Bank for Reconstruction and Development (EBRD) authorised the allocation of $50 million to Kyrgyzstan, a supply on the EBRD advised Trend.
The funds are allotted inside the “Phase III of Kyrgyz Sustainable Energy Finance Facility Program” (KyrSEFF).
The new program is geared toward introducing new inclusive monetary merchandise, particularly sustainable power merchandise significantly designed for female-owned enterprises in Kyrgyzstan.
The EBRD will channel assigned cash to its partner-banks and microfinance establishments in Kyrgyzstan. Among these establishments are Kyrgyzstan’s Kompanion Bank, Optima Bank, the First MicroFinance Company, Bai-Tushum Bank, Kyrgyz Investment and Credit Bank and DemirBank.
As the supply famous, the cash could be supplied by the aforementioned Kyrgyz banks to any corporations which might be able to
make investments into eligible tasks below this system.
“Our associate monetary establishments will work along with the guide below the programme to pick out tasks for corporations that fall below the EU definition of small medium enterprises (i.e. make use of lower than 250 folks and so on.),” the supply stated.
The KyrSEFF is this system for financing of sustainable power in Kyrgyzstan, created by the EBRD and supported by the European Union. The first part of this system was launched in Kyrgyzstan in 2013 and accomplished in 2016. The financing of the primary stage amounted to $20 million.
The second part of KyrSEFF began in 2016 and accomplished in 2021, with a complete funding portfolio of $35 million.