The EDB signs an agreement with Aiyl Bank to help implement its agriculture support programme
Bishkek, 26 May 2022. The Eurasian Development Bank (EDB) signed a US $8 million framework agreement with Aiyl Bank to help implement its agriculture support programme. The signing took place during the Eurasian Economic Forum in Bishkek.
The agreement extends a revolving targeted loan facility to the borrower.
“This project continues our successful cooperation with Aiyl Bank. It is consistent with the Bank’s priorities in the Kyrgyz Republic as set out in the EDB Country Strategy for the Kyrgyz Republic for 2022–2026. The aim of the project is to develop agriculture, which plays a significant part in the Kyrgyz Republic’s economy, has great export potential, and can build new trade links and supply chains between EAEU member states. We expect that the project will support agricultural producers and processing companies. We also expect it to help achieve the country’s economic growth objectives by boosting output, creating jobs, and increasing tax revenues,” said Nikolai Podguzov, Chairman of the EDB Management Board.
In 2014, 2017, and 2018, the EDB extended loan facilities to Aiyl Bank for a total of US $20 million under a programme to support SMEs in the Kyrgyz Republic.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For 15 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio mainly consists of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.
The EDB Media Centre:
Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)
Aiyl Bank (Kyrgyz Republic) is a major state-owned bank supporting the agrarian sector and providing the full range of banking services.