On May 21, 2024, in Bishkek, negotiations and an official signing ceremony for the Cooperation Agreement between the State Development Bank of the Kyrgyz Republic and СJSC “Bank of Asia” took place as part of the “Targeted Financing through the Kyrgyz Stock Exchange” program. During the meeting, the parties discussed priority financing sectors, as well as the tasks and potential of the banks in the context of ESG (Environmental, Social, and Governance) financing and the regional economic development of the Kyrgyz Republic.

According to the agreement, СJSC “Bank of Asia” will issue targeted social bonds totaling 100,000,000 (one hundred million) soms, of which 80% will be purchased by the State Development Bank. These funds will be provided at interest rates below market rates and will be directed towards financing women’s entrepreneurship development projects in the Kyrgyz Republic.

It is important to note that this is a new product of the State Development Bank within the set objectives for the development of the stock market and green financing (ESG), and СJSC “Bank of Asia” has become the first bank to sign this agreement.