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The State Development Bank and the Bank of Asia signed an agreement for the issue of bonds in the amount of 100 million KGS

21 May 2024

On 21 May 2024 in Bishkek negotiations and official ceremony of signing the cooperation agreement between the State Development Bank of the Kyrgyz Republic and the Bank of Asia CJSC within the framework of the program "Targeted financing through the Kyrgyz Stock Exchange" took place.

During the meeting, the parties discussed the priority sectors of financing, as well as the tasks and potential of the banks in the context of financing ESG-direction and regional development of the economy of the Kyrgyz Republic.

This is a new product of the State Development Bank within the framework of set tasks on stock market and green finance (ESG) development. Bank of Asia CJSC became the first bank to sign the cooperation agreement.

According to this agreement, Bank of Asia CJSC will issue targeted social bonds totaling 100 million KGS, of which 80% will be purchased by the State Development Bank.

These funds will be provided at below market interest rates and will be used to finance projects for the development of women's entrepreneurship in the Kyrgyz Republic.

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