BTB, one of the largest financial institutions in the Kyrgyz Republic, started out as a micro-financing institution that focused on small loans in the nation's rural areas. It later became a bank and began to increase and diversify its client base.
With this agreement, BTB will become a partner bank with the EBRD, which will take on half of the risks associated with these larger loans.
“We have worked closely with the EBRD since Bai Tushum was a micro-finance institution," Gulnara Shamshieva, BTB's general manager, said. "Bai Tushum Bank highly appreciates this partnership. The financing and technical assistance provided by the EBRD have been key for our growth and institutional development. Our new cooperation under the risk-sharing facility will enable BTB to develop its portfolio of medium-size firms. The EBRD support will also expand economic possibilities for entrepreneurs.”