German Development Bank provides EUR 10 mln grant to Kyrgyzstan

Bishkek, April 8, 2022 . / Kabar /. A grant financial agreement was signed between Kyrgyzstan and the German Development Bank (KFW) on the project "Agriculture Value Chain Finance. Phase 2” worth EUR 10 million to support the agro-financial sector. The Agriculture Ministry of Kyrgyzstan reported that the project aims to help farmers and businesses gain access to long-term agricultural investment loans in local currency to upgrade equipment and apply modern technology through selected commercial banks. In addition, under Phase 1 of the above project, a grant of EUR 9 million was allocated. Within the project, participating partner banks contribute to the development of agricultural value chains and the promotion of best practices in the production of competitive agricultural products by providing appropriate investment sub-loans for the purchase of agricultural machinery, equipment, machinery, as well as sub-loans for working capital. Within the framework of the agreement between the Governments of Kyrgyzstan and Germany on financial and technical cooperation for 2015-2016, the project "Housing Finance Program" in the amount of EUR 11 million is implemented. The purpose of the project is to issue mortgage loans to citizens of Kyrgyzstan, residing and operating in the regions of the Kyrgyz Republic, except for Bishkek and Osh.