News block

EBRD helps increase availability of credit for MSMEs in the Kyrgyz Republic, especially in rural areas
The European Bank for Reconstruction and Development (EBRD) is supporting small businesses in the KyrgyzRepublic by providing funding to The First MicroCredit Company (FMCC) for the benefit of its MSME customers, especially in rural areas.

A loan in Kyrgyz som equivalent to US$ 1.5 million will be on-lent to micro, small and medium-sized enterprises with a focus on Osh and Naryn Oblasts.

This local currency loan will help FMCC’s customers, who receive most of their revenues in som to avoid foreign exchange risk.

FMCC is a well-established MFI, wholly owned by the Aga Khan Agency for Microfinance, a part of the Aga Khan Development Network (AKDN). FMCC has a strong presence in the Southern Osh and Naryn regions, which account for a third of the total population of the KyrgyzRepublic.

Naryn, Kyrgyz Republic, 27 September 2013 – The University of Central Asia (UCA) will announce the official start of Phase I of its Naryn main campus construction on 27 September 2013. Held at UCA’s School of Professional and Continuing Education Town Campus in Naryn, Kyrgyz Republic, the event will be attended by local government, UCA representatives, and contractors , as well as local and regional media.

During the press briefing, UCA Director General Dr Bohdan Krawchenkowill provide an overview of the University’s academic programmes, campus plans and expectations for student life and take participants to view an exhibition of the campus design and architecture.

“In three years, the main campus site will house our academic and residential facilities and the campus will be a hub of intellectual activity. Our first cohort of students will make history as UCA’s class of 2021,”commentsDr Krawchenko.

The 4th EU – Kyrgyzstan Civil  Society Seminar on the Right to a Fair trial concludes its work with positive hopes for the future of the judicial reform and the uphold of the right to a fair trial in Kyrgyzstan

Bishkek, 27 September 2013 - The European Union - Kyrgyz Republic Civil Society Seminar on the "Right to a Fair Trial", held on 26 September 2013 in Bishkek, has successfully finalized its work.

Together, 60 representatives of civil society, national state institutions, professional associations, international and local experts have had the opportunity to share ideas and best practices related to the implementation of the right to a fair trial. The event was also attended by a number of diplomats posted in the country. In his opening remarks, EU Ambassador De Montis quoted Commission's President Barroso declaration during President Atambaev's visit: "Building and living in democracy is by definition an unfinished job. It is therefore important that the partners of Kyrgyzstan can support the country in consolidating its democracy. This is precisely what we are doing in the European Union".

On 26 September, 2013, the Government of Switzerland, the World Bank and the National Bank of the Kyrgyz Republic have signed a Memorandum of Understanding on establishing a Financial Sector Development Trust Fund, which will provide technical assistance to the Kyrgyz Government on implementing reforms in the financial sector.

National conference entitled “Access to Justice for Vulnerable Groups of Population” will be organized on 27^th September 2013 at “Ak-Keme” hotel from 9:00 to 17:30 in Bishkek. The conference is organized by the Eurasia Foundation of Central Asia (EFCA) in the framework of the “Equal Before the Law: Access to Justice in Central Asia” project, implemented with the generous support from the Ministry for Foreign Affairs of Finland.

The national conference will be attended by the representatives of the Ministry for Foreign Affairs of Finland, Jogorku Kenesh (Parliament), the government of the Kyrgyz Republic, including ministries and departments, and nongovernmental and international organizations. The participants will have opportunity to discuss issues around citizen documentation and availability of professional legal aid for vulnerable and marginalized groups.

Members of the Steering Committee for the EU Sector Policy Support Programme in Social Protection and Public Finance Management met at the Ministry of Finance. The Committee comprises representatives of the Ministry of Social Development, the Ministry of Finance and Delegation of the European Union to the Kyrgyz Republic.

Bishkek, Kyrgyz Republic, September 25, 2013 – IFC, a member of the World Bank Group, with the continuous support of the Swiss Government and the UK is helping the Kyrgyz Republic to create smarter regulatory environment for businesses and generate investment to boost the private sector, create jobs, and support sustainable economic development. 

The 4th European Union – Kyrgyz Republic Civil Society Seminar on the Right to a Fair Trial will take place on September 26 at Dostuk Hotel, Bishkek. Journalists are invited to attend the Opening session starting from 9:00 am. The seminar will focus on sharing ideas, comments, lessons learnt and best practices related to the application of the right to a fair trial in Kyrgyzstan among representatives of the civil society, state institutions, professional associations and international and local experts. 

From 23 to 25 September 2013 consultants of the Geneva University will hold a seminar in Bishkek for the teaching staff of the Kyrgyz State Medical Academy and the Medical Faculty of the Osh State University.

Kyrgyz Investment and Credit Bank’s pilot corporate bond in som will stimulate local capital market. The European Bank for Reconstruction and Development (EBRD) is supporting the local capital market in the Kyrgyz Republic by participating in a pilot corporate bond issue in som by the Kyrgyz Investment and Credit Bank (KICB).