Published
12/10/2024, 10:13As part of the implementation of the anti-crisis action plan of the Cabinet of Ministers of the Kyrgyz Republic and in response to crisis situations in order to support small and medium-sized enterprises, the project ‘Emergency Support to the Private and Financial Sector of the Kyrgyz Republic’, financed by the World Bank and the Asian Infrastructure Investment Bank, was launched in Kyrgyzstan on 31 March 2021.
From September 2022, entrepreneurs started to receive interest-free loans. As of 1 December 2024, the amount of interest-free loans issued was 8 billion 236 million 330 thousand 16 KGS, which were received by 11 thousand 130 entrepreneurs.
In the 1st category (up to 1 million soms), 9 thousand 467 entrepreneurs received loans in the amount of 5 billion 592 million 684 thousand 916 KGS.
In the 2nd category (up to KGS 3 million), 1 thousand 663 entrepreneurs received loans for a total amount of KGS 2 billion 643 million 545 thousand 100 KGS.
The project will be implemented throughout the Kyrgyz Republic until July 2027. Participation in the project implies fulfilment of the following criteria:
1st category includes individual entrepreneurs operating under the tax legislation of the Kyrgyz Republic, with an annual turnover not exceeding 8 million KGS and operating for at least 6 months.
The 2nd category includes individual entrepreneurs and legal entities operating under the tax legislation of the Kyrgyz Republic with annual turnover not exceeding KGS 30 million and operating for at least 6 months.
Agriculture is not financed. Loans are issued in Kyrgyz KGS with a zero interest rate. The maximum term of financial aid utilisation is 36 months, with the possibility of a grace period of up to 3 months.
The amount of financial assistance is limited to KGS 1 million for the 1st category and KGS 3 million for the 2nd category. The list of required documents may be specified by partner banks.
