The National Bank of Kyrgyzstan has officially launched the Women Entrepreneurs Finance Code, a landmark initiative developed in cooperation with the European Bank for Reconstruction and Development (EBRD).
Azernews reports that the program aims to expand access to finance for women-led businesses and unlock the country’s untapped economic potential.
Speaking at the launch event, Chairperson of the National Bank, Melis Turgunbaev, stressed that empowering women entrepreneurs is not merely a social initiative but a cornerstone of Kyrgyzstan’s national economic strategy.
“Women play a vital role in our small and medium-sized enterprise sector, which contributes significantly to the country’s GDP,” said Turgunbaev. “The launch of this Code, along with the recent legal recognition of the concept of 'women’s entrepreneurship,' lays a strong institutional foundation for directing financial sector resources toward this strategically important segment.”
The initiative introduces a series of financial reforms aimed at removing barriers for women in business. Among them are higher ceilings for unsecured loans, designed to improve credit access. Additionally, banks participating in women-focused lending programs will benefit from reduced reserve requirements—now just 1%—making such loans less risky and more appealing to lenders.
“We’re not just encouraging action—we are building real, functioning market mechanisms,” Turgunbaev stated. “Financing women entrepreneurs is not only the right thing to do but also makes solid business sense.”
To ensure long-term implementation and accountability, a National Coalition has been established under the Code. This coalition will coordinate stakeholders, monitor progress, and oversee the rollout of gender-disaggregated data collection across financial institutions—enabling more targeted, evidence-based policymaking in the future.
The financial sector has responded enthusiastically: ten major institutions, including seven commercial banks, two microfinance organizations, and the state-backed Guarantee Fund, have already signed onto the initiative.
The Women Entrepreneurs Finance Code marks a significant step forward in Kyrgyzstan’s economic modernization, promoting both gender inclusion and sustainable financial development.
