Kyrgyzstan-based biscuit and cake producer Shirin-Sulaiman will benefit from the EBRD’s Medium-Sized Co-Financing Facility supporting medium-sized businesses.
The European Bank for Reconstruction and Development (EBRD) is continuing its support for small and medium-sized enterprises in Kyrgyzstan through its partnerships with local banks. According to the news of www.24.kg, biscuit and cake producer Shirin-Sulaiman is the latest firm to benefit from the EBRD’s Medium-Sized Co-Financing Facility. The Facility allows local partner banks to lend more to such companies by sharing risk with the EBRD. This arrangement makes loans more attractive for companies.
The Kyrgyz Investment and Credit Bank (KICB) and the EBRD are providing the total financing package of 1 million dollars to Shirin-Sulaiman operating in Osh, Kyrgyzstan. Shirin-Sulaiman is a leading local player in the biscuit sector, with a 30 percent market share in the Osh and Jalal-Abad regions. The proceeds will be used to modernize its production facilities resulting in improvements of health and safety standards.