Kyrgyzstan will receive a $50 million loan from the Asian Infrastructure Investment Bank to support small and medium-sized businesses. The agreement was approved by the Parliament’s Committee on International Affairs, Defense, Security, and Migration.
According to Deputy Finance Minister Nurbek Akzholov, the loan is provided for 32 years, with a grace period of 7.5 years and an interest rate of approximately 1.5 percent per annum.
He stated that the funds will be used to finance small and medium-sized businesses, support green and environmentally sustainable projects, and initiatives aimed at reducing negative environmental impacts.
After receiving financing from the Asian Infrastructure Investment Bank, entrepreneurs will be able to obtain loans ranging from 100,000 to 50 million soms at 8 percent annual interest for up to five years.
