BISHKEK, Kyrgyzstan, July 5. The National Bank
of Kyrgyzstan has officially launched the Women Entrepreneurs
Finance Code, an initiative developed in partnership with the
European Bank for Reconstruction and Development (EBRD), Trend reports via the
Kyrgyz Bank.
Aimed at improving access to finance for women-led businesses,
the initiative seeks to unlock the full economic potential of
female entrepreneurs across the country.
Speaking at the launch ceremony, National Bank Chairperson Melis
Turgunbaev underscored the macroeconomic significance of the
initiative. He emphasized that supporting women’s entrepreneurship
is not a niche policy but a key element of Kyrgyzstan’s broader
economic strategy.
“The small and medium-sized enterprise sector, where women
entrepreneurs play a significant role, accounts for a large share
of our country’s GDP. The launch of the Code, reinforced by the
recent legal recognition of the concept of ‘women’s
entrepreneurship,’ lays a solid institutional foundation for
mobilizing financial sector resources and channeling them into the
development of this strategically important segment of the
economy,” said Turgunbaev.
Key financial reforms were introduced as part of the initiative.
Among them are increased limits for unsecured loans, which aim to
ease credit access for women entrepreneurs. Additionally, reserve
requirements for banks have been reduced: financial institutions
participating in women-focused programs can now allocate just 1
percent in reserves for potential credit losses, making such
lending more financially attractive and less burdensome for
lenders.
“We are not issuing calls to action — we are building
functioning market mechanisms. The financing of women entrepreneurs
is not only strategically important but commercially viable,” he
said, calling the Code a long-term institutional effort rather than
a one-time measure.
To ensure implementation and oversight, the National Bank will
coordinate a newly formed National Coalition under the Code. This
coalition will align the efforts of all participating stakeholders
and monitor progress over time. A cornerstone of the initiative
will be the introduction of gender-disaggregated data collection by
financial institutions, which will enable more accurate,
evidence-based regulatory and policy decisions going forward.
The Code has already gained strong support within the financial
sector. Ten of the country’s leading financial institutions,
including seven commercial banks, two microfinance organizations,
and the state-backed Guarantee Fund, have officially signed on to
the initiative.
