The Ministry of Economy and Trade of Kyrgyzstan has developed a bill to establish an industrial development bank. According to the ministry, the state has separate support mechanisms for the industry, but in order to launch them, an institution is needed to review and finance on a medium and long-term basis. The new bank will be given broad powers - from direct financing and issuing guarantees to withdrawing loans from foreign and local financial institutions. All the shares belong to the state, and the size of the authorized seed capital will be determined by the Cabinet of Ministers. Subscribe to Asia today.

The Ministry of Economy and Trade of Kyrgyzstan has developed a bill to establish an industrial development bank. According to the ministry, the state has separate support mechanisms for the industry, but in order to launch them, an institution is needed to review and finance on a medium and long-term basis. The new bank will be given broad powers - from direct financing and issuing guarantees to withdrawing loans from foreign and local financial institutions. All the shares belong to the state, and the size of the authorized seed capital will be determined by the Cabinet of Ministers. Subscribe to Asia today.