ITFC Signs USD 4 Million Trade Financing Facility to Support Kyrgyz Republic’s SME Sector

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has signed a USD 4 million trade finance agreement with Commercial Bank Kyrgyzstan (CBK), according to a statement released on the 17th of May 2021.

Why it Matters?

The agreement comes under the three-year USD 150 million Framework Agreement signed between ITFC and the Kyrgyz Government in 2019, and will ensure further cooperation between the two parties to boost private sector development in Kyrgyz Republic. The USD 4 million facility is the second Line of Trade Finance Facility that ITFC has extended to CBK and aims to support import and pre-export financing needs of the bank’s private sector clients, including Small and Medium-s...