IFC Investment Promotes Access to Finance for SMEs in the Kyrgyz Republic

In Bishkek: 
Kymbat Ybyshova  
Phone: (+996) 312 626 160 
E-mail: KYbyshova@ifc.org  

In Istanbul: 
Başak Pamir Ülgen 
Phone: (+90) 212 385 3075 
E-mail: BUlgen@ifc.org 




Bishkek, Kyrgyz Republic, November 3, 2009—IFC, a member of the World Bank 
Group, will provide a $10 million loan to ATFBank-Kyrgyzstan, a leading 
financial institution in the Kyrgyz Republic, to support the bank’s lending to 
small and medium enterprises (SMEs) in the country. 

IFC’s medium-term loan will help increase the availability of banking services 
and financial products for Kyrgyz small and medium enterprises at a time of 
limited funding opportunities in the country and the current challenging global 
economic environment. The investment also will help the bank diversify, 
increase the volume of funding and better manage its asset and liability 
position. 


Alexander von Gleich, Chairman of ATFBank-Kyrgyzstan Board of Directors, said, 
“Since its establishment, our bank has achieved excellent results in building a 
strong credit portfolio which is the largest among Kyrgyz banks. With this loan 
from IFC, we will be able to further support the Kyrgyz private sector, 
especially the SMEs.” 


Shahbaz Mavaddat, IFC Director for Southern Europe and Central Asia, said, “IFC 
is pleased to establish this partnership with ATFBank-Kyrgyzstan to boost 
access to finance, which is the foundation for private sector growth and jobs 
creation in the country. This transaction reflects IFC’s regional initiatives 
to support financial institutions under difficult conditions in international 
financial markets.” 

The Kyrgyz Republic joined IFC in 1993. IFC commitments to the country have 
reached nearly $90 million, including investments and other advisory services 
with a focus on business environment, financial infrastructure and corporate 
governance. 


About IFC  
IFC, a member of the World Bank Group, creates opportunity for people to escape 
poverty and improve their lives. We foster sustainable economic growth in 
developing countries by supporting private sector development, mobilizing 
private capital, and providing advisory and risk mitigation services to 
businesses and governments. Our new investments totaled $14.5 billion in fiscal 
2009, helping channel capital into developing countries during the financial 
crisis. For more information, visit www.ifc.org. 

About ATFBank-Kyrgyzstan 
ATFBank-Kyrgyzstan is one of the top five commercial banks in the Kyrgyz 
banking sector in terms of asset size, capital, and profit. With the largest 
loan portfolio among Kyrgyz banks, ATFBank-Kyrgyzstan has 13 branches 
throughout the Kyrgyz Republic. For more information, visit www.atfbank.kg.