The 2022 GEW week in Kyrgyzstan was full of events. On November 24, 2022, Bishkek, Kyrgyz Republic, played host to a historic event, the first-ever IBC FinEx 2022 exhibition of development financial institutions. The exhibition brought together major international financial institutions, private equity, and development funds that provide financing to the private sector in Kyrgyzstan, as well as representatives of the business community in search of funding opportunities.
As many small and medium-sized businesses in Kyrgyzstan struggle with high interest rates on loans and a lack of capital investment, the exhibition served as a platform for these businesses to connect with funding sources and platforms, ask questions, and exchange experiences with financiers and other business representatives. Financiers presented their programs, financing terms, and examples of successful project implementation, providing valuable information for businesses on options for supporting and developing their operations through the financial instruments available.
On the other hand, the exhibition also provided a chance for international financial institutions and development funds to connect with local businesses and present the funding opportunities they offer on more affordable terms. Though, this funding comes with certain requirements that businesses need to meet. To bridge the gap, the exhibition aimed to empower businesses by providing them with the knowledge they need to meet these requirements and strengthen their potential for obtaining funding.
The IBC FinEx 2022 exhibition was a successful event, with Deputy Minister of Economy and Commerce of the Kyrgyz Republic, Kanat Abdrakhmanov, praising the measures taken by the Cabinet of Ministers of the Kyrgyz Republic to consolidate the resources of development institutions to support and develop the private sector. As official partners of the event, the International Finance Corporation (IFC) and Accelerate Prosperity, a business accelerator, also played a key role in the event's success.