BAKU, Azerbaijan, May 31. The International Finance Corporation (IFC) is going to provide a loan worth $15 million to Kyrgyz Investment and Credit Bank (KICB) to support women enterprise and small-scale businesses in Kyrgyzstan, Trend reports.
The respective agreement was signed between Chief Executive Officer of KICB, Arif Ali, and Senior Regional Industry Manager of IFC, Momina Aijazuddin.
Following the signing, Arif Ali expressed his enthusiasm for the collaboration, stating that the agreement will contribute significantly to enhancing women's entrepreneurship in Kyrgyzstan.
He emphasized the importance of providing financial resources to lower-income families and supporting women-led microenterprises, which will ultimately contribute to the country's overall economic development.
In turn, Momina Aijazuddin noted that the partnership with IFC will help to promote financial inclusivity and facilitate credit access for low-income populations in Kyrgyzstan.
She emphasized that the financing not only enables KICB to better manage currency risks but also supports lending in the local currency, which is crucial during challenging times when businesses face funding shortages due to external factors.