News

CJSC MCC “Bailyk Finance” has signed a loan agreement with the European Bank for Reconstruction and Development (EBRD)

From October 3 to 4, 2024, CJSC MCC “Bailyk Finance” participated in the “Pathways to Paris 2024” conference, held in Antalya, Turkey, organized by the European Bank for Reconstruction and Development (EBRD). 💼
This event marked a significant milestone for our Company: CJSC MCC “Baylyk Finance” signed a loan agreement with the EBRD for the amount of $2 million. These funds will be utilized to support the development of small and medium-sized enterprises (SMEs) in Kyrgyzstan that are owned or managed by young people, as part of the Youth in Business Program.✨
🤝🏻 Thanks to our successful long-term cooperation with the EBRD, Bailyk Finance is proud to be the first financial institution in the Kyrgyz Republic to implement the Youth in Business program, joining the ranks of major financial institutions in countries such as Kazakhstan, Uzbekistan, Tajikistan.
Bailyk Finance is dedicated to supporting young entrepreneurs, and we proudly note that over 40% of our clients are under the age of 35. Engaging youth in entrepreneurship is essential for creating more sustainable, inclusive, and resilient economies. Young entrepreneurs possess tremendous potential to create jobs and stimulate economic development through innovation, competitiveness, and forward-thinking business practices. However, despite their capabilities and aspirations, they frequently encounter various barriers that hinder their access to essential resources needed for business growth and success.
“The main goal of the Youth in Business program is to demonstrate that young entrepreneurs have great potential to prosper through timely funding. At the same time, the development of tools for teaching them the basics of entrepreneurship and financial literacy will reduce the risks associated with financing. And the digitalization of business processes, as young people increasingly prefer mobile applications and online transactions, will accelerate the development of digitalization in the country. Thus, this Program will have an impact not only on the development of entrepreneurship run by youth, but also on the financial sector, and will contribute to sustainable economic development in the region,” noted Moldazhanova Chinara, General Director of CJSC MCC “Bailyk Finance, following the signing.