BAKU, Azerbaijan, January 2. The European Bank for Reconstruction and Development (EBRD) has approved the allocation of a $7 million loan to Kyrgyz Investment and Credit Bank CJSC (KICB), Trend reports, citing the EBRD.
The loan will be disbursed in local currency.
According to the statement, the funds have been allotted under Financial Intermediaries Framework for financing local private Micro, Small, and Medium Enterprises (MSMEs).
KICB is a universal commercial bank of Kyrgyzstan offering traditional banking products and services to large corporate businesses, MSMEs, and individuals with medium to high income. The bank has one of the largest networks of 20 branches and 25 sub-branches across the country.