EBRD extracted $4 m. to Kyrgyz daughter of Kazkommertsbank for micro-crediting

/INTERFAX, Bishkek, December 11, 07/ - European bank for reconstruction and development (EBRD) provided Kazkommertsbank of Kyrgyzstan, daughter structure of Kazakhstan Kazkommertsbank, credit in size of $4 m. in the frames of program of micro-crediting. As the head of representation of EBRD in Bishkek Kenji Nakazava informed on the press-conference on Tuesday, the loan is important step in widening of bank's activity in Kyrgyzia. "It is the second credit to Kazkommertsbank Kyrgyzstan", - he noted. First credit of EBRD in size of $5 m., extracted for the same aims, was developed by the bank in year 2005. Except this, Kazkommertsbank Kyrgyzstan is one of the first Kyrgyz banks, having receive the technical help form EBRD in form of educating to employees of methodology of micro-crediting. "We can make much more (for Kyrgyzia - IF), - K.Nakazava told. - Next year we'll try to double volume of our investments compared to $16 m., invested in year 2007, and also provide and introduce the new financial instruments for support and strengthening of Kyrgyz banking sector". Program of micro- and small financing in Kyrgyzia was approved by EBRD in April 2002. Except provision of financial resources, program foreseen the educating of employees of local banks. To present time in the frames of the program businessmen and farmers of Kyrgyzia were provided with 105 credits for total amount of $305 m. EBRD for today had confirmed 54 projects in Kyrgyzia. Great attention bank pays on development of enterprisers of small and middle business Kazkommertsbank by results of year 2006 had taken the 4-th place by volume of assets among banks of CIS in the ranking Interfax-1000: Banks of CIS, prepared by Interfax-CEA, and 1-st place among banks of Kazakhstan. Kazkommerts Kyrgyzstan had taken 821-st place in the ranking among banks of CIS and 9-th place among Kyrgyz banks. [2007-12-12]