Central Asia Facility - Ineximbank

completed

This project - Joint-Stock Company Investment Export-Import Bank (Ineximbank, the bank, or the company) is part of IFC's Central Asia Micro and Small Enterprise Facility, comprising individual credit lines to selected partner banks for on-lending to micro and small enterprises (MSEs) through specialized micro and small business finance windows created at the partner banks’ level for this purpose. Within the framework of the facility, IFC will, in close collaboration with EBRD, make available up to $45 million for lending (in the form of credit lines) to selected local banks for onlending to micro and small enterprises (MSEs) in Kazakhstan, The Kyrgyz Republic, Uzbekistan, and later Tajikistan. Ineximbank, a Kyrgyz commercial bank with approximately 13% of loans and 2% of deposits of the Kyrgyz banking system, has been selected as a partner bank for the facility. The bank was (under its former name - Eirdan Joint Stock Commercial Bank) created in 1996 by Eridan Holding and became one of the first privately owned banks in the Kyrgyz Republic. The objective of this project is to expand the frontier of finance by extending downward the range of market segments served by Ineximbank. Thus, the IFC credit line will increase the availability of sustained credit to creditworthy MSEs, while at the same time building up the lending capacity and skill base of Ineximbank.