Information resource on donors activities
in the Kyrgyz Republic


International Finance Corporation (IFC)

The Kyrgyz Republic joined IFC in 1993 and presently holds 0.07% of its equity.  IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than $22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development.

IFC’s key priority in the Kyrgyz Republic is to support the development and diversification of the private sector, contributing to the country’s greater competitiveness and improving employment opportunities. IFC aims to help improve corporate businesses practices, create an enabling environment for business, and increase access to finance for micro, small, and medium enterprises. IFC also seeks opportunities to increase direct investments in agribusiness and mining, while exploring more projects in renewable energy and energy efficiency, including public-private partnerships.

Since becoming a member of IFC in 1993, the Kyrgyz Republic has received commitments totalling more than US$117.7 million from IFC’ own funds to finance 36 projects in the financial sector, including banking and microfinance, the mining sector, agribusiness, and pulp and paper sectors. As of June 30, 2014, IFC's portfolio in the Kyrgyz Republic stood at US$30.5 million with investments in financial markets and manufacturing sectors.

IFC advisory programs in the Kyrgyz Republic focus on: i) improving financial markets infrastructure, specifically credit information sharing systems and risk management education; (ii) the institutional and capacity building of financial intermediaries; (iii) microfinance and housing microfinance development; (iv) investment climate and tax administration; (v) improving corporate governance in local companies; (vi) increasing agri-financing, and (vii) designing public-private partnership projects, currently in health and power sectors.


IFC provided the following loans and/or currency swaps during 2012-2014:
  • loan to Bank Bai Tushum to expand the bank’s SME portfolio, including gender finance component, and cross currency swaps under ISDA Master cooperation agreement (US$4 million);
  • loan to KICB to expand the bank’s SME portfolio and trade finance business (US$12 million);
  • currency swap to FG Kompanion to hedge currency risk and expand SME lending (US$6 million);
  • loan to DKIB to support the bank’s trade finance (US$2 million);
  • loan to Magic Box company, the largest producer of cardboard packages, to support its expansion (US$2.5 million).
Agri Finance Project (2014 – present) improves access to finance and market for farmers through improved farmer capacity, supply chain aggregators and financial intermediaries. Donor partner is the Austrian Ministry of Finance.

Central Asia Tax Project (2012 – present) helps government reduce tax compliance costs for businesses, and promote tax transparency and financial disclosure. Donor partners are the governments of Switzerland and UK.

Housing Microfinance Project (2012 – present) helps improve housing conditions for low-income Kyrgyz households by introducing an innovative housing microfinance lending product to local financial institutions, enabling them to provide funding for home improvements to low-income residents. Donor partner is the government of Switzerland.

Financial Markets Infrastructure Project (2009 – present) aims to expand secure access to finance for individual consumers and MSMEs by improving the financial infrastructure of and regulatory environment for credit bureaus and by developing a Risk Certification Program. Donor partner is the government of Switzerland (

Investment Climate Project (2009 – present) helps the government establish transparent and effective business regulations and create a favorable environment for entrepreneurs. Donor partners are the governments of Switzerland and UK (

Micro and Responsible Finance Project (2008 – present) provides advisory services to microfinance institutions in Azerbaijan and Central Asia to support their transformation processes. Donor partner is the government of Switzerland (

Corporate Governance Project (2007 – present) helps local companies and banks strengthen their corporate governance practices with a view to improving their operations and increasing ability to attract investment and financing.  Donor partners are the governments of Switzerland and UK (

Information on how to work with IFC can be downloaded here.

Country Officer: Ms. Manizha Mamadnabieva   

Contact person: Kymbat Ybyshova, Communications Officer
21, Erkindik Avenue, 4th floor
Business centre Orion 
Bishkek 720040, Kyrgyz Republic
Tel: (+996 312) 626162
Fax: (+996 312) 626165