Through the program, IFC will work with state agencies and other organizations to identify and remove regulatory barriers for starting and operating a business, as well as help streamline inspections practices and tax administration. The program will monitor changes to the country’s business environment through nationwide surveys of the private sector. It will also promote private sector reforms and help increase entrepreneurs’ legal awareness through a public outreach campaign and foster dialogue between the government and private sector.

“Sustainable private sector development in the Kyrgyz Republic is a top priority for the Swiss government,” said Andrea Studer, Deputy Country Director for the Swiss Cooperation Office in the Kyrgyz Republic. “The new program is an important step toward achieving this goal and improving the regulatory environment for Kyrgyz SMEs.”

Since 2002, IFC has partnered with the government of Switzerland in a number of Central Asian countries to help improve the business environment, which has resulted in US$66.4 million of cost savings for local entrepreneurs.

“Building on our partnership with the Swiss government, we will now apply our wealth of regional experience to strengthen the private sector in the Kyrgyz Republic,” said Ellen Payne, IFC Project Manager. “IFC is strongly committed to helping the Kyrgyz government create a more favorable climate for business.”

The Kyrgyz Republic joined IFC in 1993. IFC commitments to the country have reached nearly US$75 million, including investments and other advisory services with a focus on leasing, microfinance, housing finance, and corporate governance.