The Ministry of Finance and two Kyrgyz banks have signed memoranda with Citibank

Kyrgyzstan is set to expand its cooperation with the US bank Citibank. On 21 September in New York, following a meeting between Sadyr Zhaparov and the bank’s Managing Director, Stephanie von Friedburg, three memoranda of understanding were signed — with the Ministry of Finance, Eldik Bank and ABank.

The parties discussed international payments, investment cooperation, Kyrgyz banks’ access to the international financial infrastructure and the possibility of establishing new correspondent banking relationships.

The prospect of opening a Citibank branch in Kyrgyzstan was also discussed. Representatives of the bank expressed an interest in establishing correspondent relationships with state-owned banks and participating in projects being implemented in the country.

In April 2026, Eldik Bank issued its inaugural Eurobonds worth $500 million, with Citigroup acting as one of the lead arrangers and bookrunners for the transaction.