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According to the EBRD, the project consists of the provision of a senior synthetic KGS loan of up to US$ 4 million to Demir Kyrgyz International Bank (DKIB) under the Kyrgyz Republic GEFF (KyrSEFF III). The proceeds will be on-lent to sub-borrowers for energy efficiency, renewable energy, circular economy, and climate resilience investments. The project will further strengthen MSE competitiveness, improve climate resilience and promote the financial sector development in particular through local currency lending.
The transaction will contribute towards building a more competitive financial sector through developing the internal capacity of DKIB for financing energy and water efficiency projects. This will be achieved through a technical assistance aimed at providing implementation support to DKIB and their customers, verification of the outcomes, and investment incentives to end borrowers. Sub-projects are selected according to technical and financial eligibility criteria set forth in the policy statement for KyrSEFF III. 100 per cent of the proceeds will be used for Green Economy Transition investments.
Nurlan EsenalievNurlan.Esenaliev@demirbank.kg+996312909060www.demirbank.kg245 Chui Avenue, Bishkek, 720001, Kyrgyz Republic
The EBRD categorized the project risk as FI, without providing additional information on the project risks.
As stated by the EBRD, DKIB is a longstanding client of the EBRD, which during the period from 1997 until late 2018 was bank's shareholder. To date the EBRD has provided to DIKB a wide range of various debt products, including SME, energy efficiency and mortgage loans, as well as trade finance financing, with the total amount of provided funding exceeded US$ 50m. The EBRD is the major wholesale lender to the bank as DKIB mostly relies on deposit funding and only borrows wholesale funds to participate selectively in expertise generating and high profile IFI-led projects in the country.
Financial Intermediary - Demir Kyrgyz International Bank:
Nurlan Esenaliev
Email: Nurlan.Esenaliev@demirbank.kg
Phone: +996312909060
Website: www.demirbank.kg
Address: 245 Chui Avenue, Bishkek, 720001, Kyrgyz Republic
ACCESS TO INFORMATION
You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request
ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.
You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en
You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html