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The co-financing program involves the implementation of co-financing jointly with international financial funds and banks of the Kyrgyz Republic. This type of lending involves the issuance of syndicated loans to large economic entities intending to work with large national projects.

Loan product No. 3
Program "Co-financing"

Target group

Legal entities (economic entities) carrying out their activities on the territory of the Kyrgyz Republic, established in accordance with the legislation of the Kyrgyz Republic, owning, economic management or operational management of separate property and liable for their obligations with this property, capable of acquiring and exercising property in their own name and personal non-property rights and obligations.
Economic entities formed in the form of a joint-stock company, limited liability companies, cooperatives, peasant (farm) enterprises (with the formation of a legal entity) and state enterprises.

Purpose

Projects aimed at diversifying and stimulating the economy of the Kyrgyz Republic, as well as creating jobs and leveling the economic development of the regions.

Sectors of financing

Business entities operating in the following industries:
· water supply;
· health care;
· energy;
· Automotive industry;
· tourism;
· education, development of human resources;
· Science, research and technology;
· chemical and petrochemical industry;
· agriculture and agro-industrial complex;
· light (clothing and textile) industry; · manufacturing and processing industry;
· mining and metallurgical industry; · transport;
· trade;
· development of entrepreneurship;
· development of infrastructure;
· information Technology;
· e-commerce;
· the creative industry;
· cellular;
· businesses organized according to sustainable business practices (ESG).

Funding currency

- Kyrgyz som.

Financing term

up to 8 years (96 months).

Interest rate

The interest rate consists of:
1) Interest rate of the Bank - 6% per annum on the amount of lending through the State Bank of the Kyrgyz Republic;
2) The interest rate of the Development Fund and/or the Bank-participant of the co-financed loan specified in the Loan Agreement.

Funding amounts from the Bank

  • The maximum loan amount per one Borrower or a group of related borrowers should not exceed 250 million soms
  • The minimum loan amount is 20 million soms.

    • Content

    Own contribution
    The project owner must make his own contribution in the amount of at least 10% of the project cost; in the case of project financing, own contribution must be at least 30% (own contribution can be made in the form of cash, property, including intellectual property, land, fixed assets, etc.).
    Financing collateral can be
    · Guarantees of the State bodies of the Kyrgyz Republic, the Cabinet of Ministers, international financial institutions, banks and the Guarantee Fund of the Kyrgyz Republic;
    · Government securities of the Kyrgyz Republic;
    · Real estate, incl. land;
    · Equipment, vehicles;
    · Guarantees of third parties, the acceptability of which is assessed by the Bank in accordance with the Bank's Collateral Policy;
    · Other types of collateral in accordance with the Bank's Collateral Policy.
    Valuation of collateral
    · To assess the value of project assets and/or collateral, the Bank may use the services of an independent appraisal company included by the Bank in the list of partner companies posted on the website of the Development Fund and the Bank;
    · The date of the valuation should not exceed 6 (six) months from the date of submission of the application for funding;
    · The Bank reserves the right to change the cost of the assessment.
    Repayment schedule
    · For interest - it is possible to provide a grace period for payment up to 9 months;
    · For the main debt - it is possible to provide a deferral of payment up to 12 months;
    Insurance
    By decision of the Board, the Bank may include a requirement to insure the collateral or financed asset under the project.
    Special conditions
    · All costs associated with the loan and registration of collateral, as well as its insurance are paid by the Borrower;
    · The borrower is responsible for the safety and proper use of the collateral;
    Penalty for misuse of credit funds
    In case of misuse of credit funds, the interest rate increases to 20% per annum. The Bank reserves the right to submit information about the misuse of credit funds by the client to the Credit Information Bureau.
    Restrictions
    The bank does not provide:
    · a loan without collateral;
    · credits for trading operations and working capital outside of project financing;
    · loans to individuals;
    · Loans in the presence of overdue obligations on previously issued loans

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