EDB to allocate USD 8 mln to support agro-industrial complex in Kyrgyzstan

Bishkek, May 27, 2022 / Kabar /. The Eurasian Development Bank (EDB) and Aiyl Bank OJSC signed a framework agreement worth USD 8 million to implement a program to support the agro-industrial complex. The signing ceremony of the agreement took place within the framework of the Eurasian Economic Forum in Bishkek. The project provides for the provision of a targeted revolving credit line to the borrower. This project is a continuation of our successful cooperation with Aiyl Bank. It meets the priority direction for the development of the Bank's activities in the Kyrgyz Republic in accordance with the EDB Country Strategy for the Kyrgyz Republic for 2022-2026. The aim of the project is the development of the agro-industrial complex. The agro-industrial sector plays a significant role in the economy of the Kyrgyz Republic and has great export potential and opportunities in building new trade relations and logistics chains for the supply of goods between the EAEU member states, the report said. The bank emphasized that they expect the project to support both agricultural producers and enterprises processing agricultural products. In 2014, 2017 and 2018, Aiyl Bank was provided with credit lines for a total of USD 20 million under the program to support small and medium-sized businesses in the Kyrgyz Republic.