Deputy Minister of Finance Nurbek Akjolov reported that as part of the initiative "Development of a Sustainable Financial Market for Micro, Small, and Medium Enterprises in the Kyrgyz Republic," which the World Bank has already allocated $120 million for, the Asian Infrastructure Investment Bank will add 7.3 billion Japanese yen, equivalent to $50 million.
The loan will be provided for a term of 32 years, with the first seven years and six months having a floating interest rate of 1 percent.
According to Akjolov, these funds will be directed to support small and medium enterprises, particularly for financing "green projects." Entrepreneurs will be able to obtain loans ranging from 100,000 to 50 million soms for a term of five years at an interest rate of 8% per annum.
He also noted that the funds allocated by the World Bank in the amount of $120 million began to be disbursed to entrepreneurs at the beginning of February.
As a result of the discussion, the deputies unanimously approved the draft loan agreement.
