46348
KOMPANION BANK CJSC
Apr 27, 2023
Kyrgyz Republic
Central Asia and Turkiye
Jul 3, 2023
FI-2 - Limited
Active
Sep 29, 2024
Regional Industry FIG MCT
Financial Markets
Approved : Sep 29, 2023
Signed : Jun 27, 2024
Invested : Sep 27, 2024
Commercial Banking - SME Finance
Blended Finance
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.
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.
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