For the first time in the history of Kyrgyzstan trading of gender bonds started

On November 18th, 2022, for the first time in the history of Kyrgyzstan, gender bonds trading started. This initiative was the result of a partnership between UN Women Kyrgyzstan, the Bank of Asia, the Institute for Economic Policy Research of the Kyrgyz Republic, AIFC Green Finance Centre (AIFC GFC), Kyrgyz Stock Exchange, and the financial company "Senti".

The Bank of Asia became the first bank-issuer of gender bonds in Kyrgyzstan. The purpose of gender bonds is to develop the business of women entrepreneurs, improve the welfare and livelihoods of women, contributing to gender equality, and women's rights and economic empowerment.

Gender bonds are loans at a reduced interest rate and are designed to grow the business of women entrepreneurs. The bonds were launched not only to empower women but are also expected to have a positive impact on the development of gender economy.

Ulziisuren Jamsran, the Representative of UN Women Kyrgyzstan, highlighted in her welcoming speech the contribution of gender bonds to the National Program to Support and Develop Women's Entrepreneurship in the Kyrgyz Republic for 2022-2026 and the National Gender Strategy on Achieving Gender Equality by 2030.

"This initiative will give special attention to women entrepreneurs from suburban and rural areas and different regions of Kyrgyzstan who can bring huge dividends to the community, as women's economic empowerment and sustainable economic growth are mutually reinforcing processes", Ms. Ulziisuren Jamsran emphasized.

82,000 gender bonds worth 1,000 KGS each were put up for public auction. The period of their circulation is three years, and the total value of bonds is 82,000,000 KGS. 25% of gender bonds (20,500,000 KGS) were purchased within the first half an hour of trading, mainly by the business sector. Among the first buyers were the Accumulative Pension Fund of Kyrgyzstan; Lee Jong Beck, one of the shareholder of Bank of Asia; businessperson Jumabek Salymbekov; Nadira Kasymova, CEO of World Class Bishkek; the insurance company Jubilee Kyrgyzstan, and the association "Dordoi".

For information:

One of the differences between social bonds and classic bonds is that the former are target bonds, the attracted funds of which will be used for social projects, and are issued in accordance with international principles established by the International Capital Markets Association (ICMA). The AIFC GFC, the only company in Central Asia accredited by ICMA and the Climate Bonds Initiative, carries out the verification of social bonds. For example, in

Kazakhstan, 60% of green bonds and loans are verified by the AIFC GFC and received the international recognition №1 in Eastern Europe and Central Asia in accordance with the Global Green Finance Index.

You can leave an application to buy bonds at: www.inet.kg

Event photos