The European Bank for Reconstruction and Development (EBRD) is continuing its support of small and medium-sized businesses in Kyrgyzstan with a partnership with the Kyrgyz Investment and Credit Bank (KICB).
The latest recipient of financial support is Shrin-Sulaiman, a local food processor that specializes in baked goods such as cakes and biscuits, the EBRD announced on Thursday. Both financial institutions are lending the equivalent of $1 million to modernize the company's production and to improve heath and safety procedures. A majority of the staff consists of women in the area.
The company holds 30 percent of the market share in the city of Osh — where they are based — and in the Jalalabad region.
For the EBRD, supporting small and medium-sized companies is a priority in Kyrgyzstan, part of the bank's newly implemented strategy for the country.
The company has been working with the EBRD since 2014 through the bank's Small Business Support team. This is a donor-supported program that enables consultations for local businesses to help them grow.