KICB attracted 1.3 billion som from IFC through sustainable development bonds

The Kyrgyz Investment and Credit Bank successfully issued sustainable development bonds worth 1.3 billion som. All bonds were purchased by the International Finance Corporation, a member of the World Bank Group.

This bond issuance marks an important step in implementing KICB's ESG policy, aimed at integrating best international practices in environmental, social, and corporate governance.

The proceeds from the issuance of Sustainable Development Bonds will be directed toward providing long-term financing in national currency for sustainable environmental and social projects, as well as supporting small businesses, entrepreneurs, and socially vulnerable groups, including women.

The international rating agency Standard & Poor’s confirmed that KICB’s sustainable financing concept aligns with international standards and the Green and Social Bond Principles of the International Capital Market Association (ICMA). ICMA is the leading organization developing guidelines for the transparent and responsible issuance of green and social bonds.

For over 20 years, KICB and IFC have successfully collaborated on projects providing business financing, microfinance for low-income families, and women entrepreneurs, positively impacting the country's economic sustainability. This agreement will strengthen the longstanding partnership between KICB and IFC and ensure access to financing for socially vulnerable populations and small entrepreneurs. KICB is recognized as the first bank in Kyrgyzstan to successfully issue its own bonds in 2013 and continues to develop the securities market, placing significant emphasis on sustainable development principles.

Source: kicb.net