“KyrgyzExport”: Kyrgyzstan May Establish an Export Bank in the Future

Kyrgyzstan is considering the possibility of establishing a separate export bank to finance companies entering foreign markets. This was announced by Urmat Takirov, director of the “KyrgyzExport” Center for Export Development and Promotion.

According to him, the creation of such an institution is a long-term goal. Before that, it is necessary to prepare the legislative framework, establish the appropriate infrastructure, and increase the number of companies that will be able to access such financing.

The first step, according to Takirov, should be to develop financing for exporters through the State Development Bank. Under the current plan, the bank is set to be capitalized by more than 5 billion KGS over the course of three years.

The financing is planned to be tied to export contracts. The Ministry of Finance has already been given instructions in this regard.

Takirov noted that exporters need specialized financial instruments, since access to financing remains one of the key conditions for expanding exports.