EBRD Aids Tajik, Kyrgyz Small Businesses

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Nov 2014
Central Asia, November, 20 2014 - The European Bank for Reconstruction and Development (EBRD) recently announced a number of programmes to aid small businesses in Tajikistan and Kyrgyzstan.

The aid includes the first-ever hyper-market for Tajikistan, the EBRD said in a November 18 statement. The EBRD is lending €5m (25.4m TJS) to the Tajik subsidiary of Schiever, a French firm, so that it can build an Auchan discount hyper-market in Dushanbe.

Meanwhile, the EBRD soon plans to lend another €5m to the micro-lender IMON International so it can continue providing credit to Tajik micro and small enterprises (MSEs), the bank said November 18.

IMON concentrates on lending to "underserved, economically active members of the Tajik population," the EBRD said. It awarded its first loan to IMON in 2005.

In Kazakhstan, the EBRD and the micro-lender KazMicroFinance are still helping micro, small and medium-sized enterprises (MSMEs) gain access to credit, the EBRD also said November 18. It agreed to lend US $5m (904.9m KZT) to KazMicroFinance, enabling it to lend to various small rural businesses that traditionally struggle to obtain financing.



 

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