KfW German Development Bank, in association with the Ministry of Finance of the Kyrgyz Republic, has launched a new initiative to finance agricultural value chains.
The Kyrgyz Value Chain Finance Programme will last for 5 years and aims to promote advanced agricultural practices in the country.
Technical support will be provided by the Swiss-based consultancy BFC (Business & Finance Consulting), swhich was selected through an international tender. Support is aimed at improving the quality of the financial services of banks through the application of advanced banking technologies to reduce the cost of customer service and, as a result, make borrowing cheaper for producers and processors of agricultural products.
The official opening of the program was held on May 26, 2016., and was attended by representatives of KfW German Development Bank, bank-participants, BFC, GIZ, and the European Union.