Kompanion Bank CJSC and Russian Kyrgyz Development Fund have signed an agreement on providing credit line to finance small and medium sized businesses. It was officially signed on October 4 of 2016.

Within the frames of this cooperation entrepreneurs will be able to get concessional loans for long term production investments in manufacturing industry (including sewing, textile, mining, metallurgy), transportation and infrastructure of tourism, medicine, trade and education.

“Support of small and medium sized business – one of the priority segments of RKDF activities. Cooperation of the Fund with Kompanion Bank will let entrepreneurs to get access to concessional financing and open new opportunities for business development,”- noted the Board Member of RKDF Erkin Asrandiev.

Concessional loans at the annual rate of 12% for up to 5 years without fees and dues will be accessible for Kompanion Bank clients.

“Building trust-based relations with partners, we are continuing to expand the variety of bank products and services for our clients. The signed agreement is the beginning of a long term cooperation of Kompanion Bank with RKDF, and the result of which will be an efficient financing of small and medium sized businesses in Kyrgyzstan ,”- stated the Chief Executive Officer of Kompanion Bank CJSC Ulanbek Termechikov.

About the Bank:

Kompanion, established in 2004, has passed all the stages of institutional development. And today it is a sustainable Bank with assets of 6.5 billion KGS and equity of 1 billion and 600 thousand KGS. Kompanion Bank has significantly expanded its presence in the market of Kyrgyzstan since its establishment. As of August 31 of 2016, the Bank has 107 divisions throughout the country, about 100 000 clients, and more than 1000 employees. For more information about the bank, please visit the website www.kompanion.kg.

About the Fund:

Russian Kyrgyz Development Fund – is an international organization. Its mission is to attract funds and projects for long term development of economy of the Kyrgyz Republic. The equity capital of the Fund is $ 500 mln. According to information for October 3 of 2016, the Fund has approved 505 projects for total amount of $144.4 10/6/2016.