The Netherlands Development Finance Company (FMO) provides USD 15 million local currency syndicated loan facility to the CJSC “FINCA Bank”. The relevant agreement has been reached on August 28, 2015. It stipulates that syndicated loan facility is intended for on-lending to micro and small businesses in Kyrgyzstan.

FMO will contribute USD 10 million and an additional USD 5 million is expected from another international lender. This five-year loan will allow FINCA Bank Kyrgyzstan to expand the financing of small businesses, particularly in rural area and remote regions where the supply of banking services is still limited.

“We are very pleased to finance FINCA Bank Kyrgyzstan, an institution reaching out to remote areas and serving more than 125,000 clients By supporting micro and small entrepreneurs in Kyrgyzstan, the economy will grow, bringing opportunity and financial inclusion to a larger part of the population”, Nanno Kleiterp, FMO’s Chief Executive Officer, said.

FINCA Bank Kyrgyzstan currently provides a range of financial services – including individual and agricultural loans, savings accounts, and money transfers.

According to Margarita Cherikbaeva, the Chairperson of the Management Board of FINCA Bank Kyrgyzstan, that is the first syndicated loan facility our bank receives; it is particularly strategic for FINCA Bank Kyrgyzstan, as it will allow us to expand the financing of small businesses, especially in the agricultural sector and across the rural regions of Kyrgyzstan and it marks the start of a partnership with international financial institutions.