Kyrgyz company to raise output and improve working conditions
A joint financing mechanism between the EBRD and the Kyrgyz Investment and Credit Bank (KICB) will allow Avtomash Radiator, a maker of radiators for tractors and other heavy motor vehicles, to invest in increased capacity and health and safety improvements at its production plant in the Kyrgyz capital, Bishkek.
Avtomash, which exports mainly to Belarus and Russia, will use the financing to introduce new lighting and ventilation systems. These will benefit the company’s 550 employees while also increasing energy efficiency and reducing maintenance costs at the plant.
The US$ 1 million (€920,000 equivalent) loan is financed on a 50:50 basis by the EBRD and KICB. The financing is being made available under a special Medium-Sized Loan Co-Financing Facility (MCFF), through which the EBRD and its partner banks jointly provide small and medium-sized enterprises with longer-term loans for capital investments.
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