EBRD pledges new funds to support trade and resource efficiency in Kyrgyz Republic
Kyrgyz Republic, June 8 -- New funds of up to US$ 25 million (€21.5 million) provided by the European Bank for Reconstruction and Development (EBRD) to Demir Kyrgyz International Bank (Demir Bank), one of the largest lenders in the Kyrgyz Republic, will help to support trade and green innovation in the country.The EBRD's financing package consists of the following elements:A senior loan of up to US$ 20 million (€17.2 million) to Demir Bank under the Kyrgyz Republic's Green Economy Financing Facility (KyrSEFF III). These funds will help to address pressing environmental issues in a country badly affected by climate change. The proceeds will be available either in US dollars or in synthetic local currency (Kyrgyz som) and will hel...
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