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Add to Preferred SourcesThe Eurasian Development Bank (EDB) and Aiyl Bank entered into a US $10 million framework agreement to finance SME projects. The document was signed by Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at the EDB, and Murat Akimov, Chairman of the Board at Aiyl Bank.
The agreement extends a revolving targeted loan facility to the borrower. The loan may be disbursed in the US dollars, Russian roubles, euro, Kyrgyz som, and Kazakh tenge.
“Supporting small and medium-sized businesses is an effective instrument that contributes to the sustainable economic development of the country where micro, small and medium-sized businesses play an important part, including in terms of employment and overall social stability,” commented Dmitry Ladikov-Roev.
In 2014 and 2017, the EDB provided loan facilities to Aiyl Bank for a total of US $10 million under the programme to support SMEs in the Kyrgyz Republic. The project financed over 400 micro and small businesses, helping to maintain employment and enhance production rates in the country.
Original source: EDB
Published on 11 October 2018