PROJECT

Projects

Summary of Investment Information

Project Number

46348

Company Name

KOMPANION BANK CJSC

Date SPI Disclosed

Apr 27, 2023

Country

Kyrgyz Republic

Region

Central Asia and Turkiye

Projected Board Date

Jul 3, 2023

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Sep 29, 2024

Department

Regional Industry FIG MCT

Industry

Financial Markets

Previous Events

Approved : Sep 29, 2023
Signed : Jun 27, 2024
Invested : Sep 27, 2024

Sector

Commercial Banking - SME Finance

Additional Project Attributes

Blended Finance

Project Description

The proposed Project consists of a up to US$6 million equivalent in Kyrgyzstani soms straight senior loan to Closed Joint-Stock Company “Kompanion Bank” (“Kompanion” or the “Bank”) – a private bank in the Kyrgyz Republic, an IDA country, with a strong focus on lending to micro and small enterprises (“MSEs”). The proceeds from the loan will be used to provide access to affordable local currency funding to a larger number of underserved MSEs operating in remote areas. Up to 40 percent of the loan proceeds will be allocated to women-owned MSEs on-lending (WMSEs) and up to 10 percent of the loan proceeds will be allocated to green financing of MSEs. The IFC’s loan is expected to have a tenor of up to three years. The Project will be processed under IFC’s Base of the Pyramid (BOP) COVID-19 Crisis-Response Program (Project #44915) and will be supported by IDA Private Sector Window (PSW) Blended Finance Facility and IDA-PSW Local Currency Facility.

Associated Advisory Engagement

 The IFC is planning to have an advisory engagement to support Kompanion in developing a green finance roadmap through the “CAT Climate Smart Facilitation Program”. Engagement will include conducting of a comprehensive review of the Bank’s operations, a portfolio analysis to identify current green assets, advising on climate reporting, and identification of green finance opportunities in the market.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation