The JSC "Eldik Bank" is starting the implementation of a new project titled "Development of Climate-Resilient Value Chains in Agriculture of the Kyrgyz Republic." The financing for this initiative is provided by the Asian Development Bank. An important event related to the signing of the Project Agreement took place today, attended by the Chairman of the Board of JSC "Eldik Bank" Ulanbek Nogaev and the Country Director of the ADB's Permanent Representative Office in Kyrgyzstan Zheng Wu.
As part of this project, "Eldik Bank" will receive a subordinated loan in national currency equivalent to 13 million US dollars. These funds will be directed towards supporting preferential lending to legal entities and individual entrepreneurs operating in the country's fruit and vegetable sector.
The loan funds will be provided:
- up to 5 million US dollars (in equivalent of the national currency);
- for a term of up to 10 years;
- with an interest rate of 6% per annum;
- EPS - from 6.23%.
- Post-harvest storage, processing, and marketing of fruit and vegetable products, including the acquisition of new transport and equipment;
- Production and/or supply of agricultural technologies, logistics, as well as providing necessary resources and services for the production of fruit and vegetable products;
- Construction, reconstruction, and repair of facilities that meet eligibility criteria;
- Investments in equipment that contributes to added value.
"We are pleased to see 'Eldik Bank' among the financial institutions participating in the project for developing climate-resilient agriculture with the support of the ADB," added Zheng Wu.
"The extensive network and experience of 'Eldik Bank' will significantly expand access to financing for small and medium-sized agricultural enterprises in horticulture, which will contribute to increasing climate resilience and improving living conditions in rural areas," noted Zheng Wu, Director of the ADB's Permanent Representative Office in Kyrgyzstan.
The project "Development of Climate-Resilient Value Chains in Agriculture" aims to create favorable conditions for increasing the supply of fresh and processed fruit and vegetable products to both domestic and international markets.
The main task of the initiative is to strengthen and develop production and marketing chains that ensure increased volumes and improved quality of products, as well as the introduction of modern technologies in the processes of production, storage, and processing. This, in turn, will contribute to enhancing the competitiveness of products from Kyrgyzstan. The implementation of the project will be an important step in the implementation of state policy for the development of agriculture and ensuring food security in the country.
