On June 25, 2026, the State Development Bank of the Kyrgyz Republic signed its first agreement to provide financing to a commercial bank as part of a program to support sustainable financing for micro, small, and medium-sized enterprises. The project is being implemented under an agreement between the World Bank and the Ministry of Finance of the Kyrgyz Republic. Under this agreement, $55 million has been allocated to the State Development Bank of the Kyrgyz Republic.
Bank of Asia CJSC became the program’s first partner.
The agreement launches a wholesale financing mechanism under which the State Development Bank provides resources to commercial banks and microfinance organizations for subsequent concessional lending to businesses implementing projects in the green economy, energy efficiency, and resource conservation.
The State Development Bank’s funds will be used to support small and medium-sized businesses:
- installation of solar panels and other clean energy sources;
- implementation of energy-efficient equipment;
- modernization of production facilities to save water, electricity, and fuel;
- projects to reduce harmful emissions and mitigate environmental pollution.
“This is the first practical step in launching a systemic mechanism for financing green investments in the country. Through partner financial institutions, small and medium-sized businesses will gain access to long-term resources for the implementation of energy-efficient technologies, renewable energy sources, and environmentally sustainable solutions. This will improve business competitiveness and the quality of economic growth,” noted Emil Takyrbashev, CEO of the State Development Bank of the Kyrgyz Republic.
The program aims to expand business access to concessional financing, modernize production facilities, reduce the energy intensity of the economy, mitigate the negative impact on the environment, and create new jobs.
The State Development Bank of the Kyrgyz Republic is consistently building a sustainable financing infrastructure and expanding its support tools for priority sectors of the country’s economy.
