Kyrgyzstan has high interest rates: Swiss Ambassador

AKIPRESS.COM - Kyrgyzstan has very high interest rates on loans, Swiss ambassador to Kyrgyzstan Véronique Hulmann said during the investment forum in Bishkek on May 31.
The interests rates in Kyrgyzstan are very high despite the fact that the central bank is cutting bank rate since 2017, she noted.
The key rate today is 4.25%, which is quite low, she noted.
New financial products to support small and medium enterprises need to be found. The role of SMEs in development of the economy should be further expanded, she believes.
Swiss envoy reiterated her country's support to Kyrgyzstan in developing SMEs.
She recalled that Switzerland, along with the World Bank and the European Bank for Reconstruction and Development, launched a number of financing projects to back SMEs in Kyrgyzstan.