KYRGYZSTAN - SME LINE OF CREDIT II

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A US$ 20 million loan in the form of a guaranteed apex credit line to be used to finance private sector small and medium-sized enterprises (SMEs) in Kyrgyzstan. The project aims to support the development of the private and banking sectors in Kyrgyzstan. The proceeds of the sub-loans will be used to provide medium-term financing for private sector SMEs. The project will have an impact on the transition by providing local entrepreneurs with access to longer-term funding than is currently available. The National Bank of Kyrgyzstan will borrow and on-lend the funds to qualifying private Kyrgyz banks, which will in turn on-lend the funds to private small and medium-sized enterprises. US$ 20 million (ECU 18.5 million) credit line. US$ 20 million (ECU 18.5 million). The participating banks will follow the EBRD's Environmental Procedures for Local Banks in relation to all sub-loans financed through the credit line. In implementing these procedures, the banks will assess potential environmental issues associated with sub-projects, which are required to comply, at a minimum, with local/national health, safety, environmental and public consultation requirements and standards. Technical cooperation funding of US$ 1 million to assist implementation is being sought.