EBRD senior officials discuss SMEs issues with Kyrgyzstan’s business community

On May 23, the European Bank for Reconstruction and Development (EBRD) senior officials met with representatives of the business community of Kyrgyzstan.

The meeting was attended by EBRD Vice President Alan Pilloux, EBRD Managing Director for Central Asia Bruno Balvanera, EBRD Regional Director for Central Asia Neil McCain, representatives of the EBRD office in Bishkek, as well as business associations of the Kyrgyz Republic.

The meeting participants discussed issues of concern to small and medium businesses, including tourism development, access to finance, regulatory framework, and investment opportunities.

IBC Executive Director Askar Sydykov briefly highlighted the business environment in the mining sector of the Kyrgyz Republic, and also made proposals for the EBRD to help develop this industry.

The EBRD’s operations in the Kyrgyz Republic are focused on private sector development, especially support for micro, small and medium-sized enterprises. The financial and infrastructure sectors are also important priorities. Transition challenges remain significant but there seems to be serious commitment from the new government towards reform.

In the finance sector, the EBRD continued to support the country’s local banks and microfinance institutions by signing four agreements in local currency – an important part of the Bank’s work in the country. The Small Business Support (SBS) team is here to help small and medium-sized businesses grow, succeed, then grow again, becoming genuine catalysts for their local economies, then their region.

SBS supports businesses from many industries, such as food and beverages, wholesale and retail distribution and construction and engineering. They don’t just work in the main cities. In fact, 69 percent of projects are outside Bishkek. Read more: https://www.ebrd.com/kyrgyz-republic.html