On February 12, an agreement was signed in Bishkek between the Ministry of Finance of the Kyrgyz Republic and the Asian Infrastructure Investment Bank, which provides for a concessional loan of 50 million US dollars for the State Development Bank.
The Ministry of Finance reported that the funds received will be used to support micro, small, and medium enterprises engaged in "green" and resource-saving projects. Such projects include:
* reducing energy consumption and operational costs;
* implementing energy-efficient equipment;
* developing renewable energy sources;
* modernizing production processes;
* reducing negative impacts on the environment.
It is also emphasized that the implementation of this project will contribute to the growth of investments in sustainable initiatives of small and medium-sized businesses, enhance the technological level of enterprises, strengthen the competitiveness of the domestic sector, create new jobs, and achieve national climate and social goals.
The success of the project will depend on the effective cooperation between the State Development Bank and the Ministry of Finance of the Kyrgyz Republic. Their joint efforts are aimed at expanding entrepreneurs' access to long-term financing and supporting the modernization of the economy for sustainable growth in the country.
