On February 12, an agreement was signed in Bishkek between the Ministry of Finance of Kyrgyzstan and the Asian Infrastructure Investment Bank, under which a concessional loan of 50 million dollars was approved for the State Development Bank.
The Ministry of Finance reports that these funds will be directed to support micro, small, and medium enterprises engaged in the implementation of "green" and resource-saving initiatives. Such projects include:
* reducing energy consumption and operational costs;
* implementing energy-efficient equipment;
* developing renewable energy sources;
* modernizing production processes;
* minimizing negative environmental impact.
The implementation of this project will increase investments in sustainable initiatives of MSMEs and enhance the technological level of companies, which in turn will strengthen the competitiveness of domestic businesses, create new jobs, and help achieve national climate and social goals.
The effectiveness of this initiative will be ensured through the coordinated work of the State Development Bank and the Ministry of Finance of the Kyrgyz Republic, which are jointly working to expand entrepreneurs' access to long-term financing and support the modernization of the economy aimed at sustainable growth of the country.
