The Asian Development Bank (ADB) has successfully placed Kyrgyz som bonds worth 427.5 million KGS (about $5 million). This is the bank's first issue denominated in the Kyrgyz national currency, with a three-year term and a coupon rate of 10.5%. The bonds will be redeemed in US dollars. Standard Chartered Bank acted as the organiser of the issue, with a full subscription by Record Currency Management.

The emission aims to support micro and small enterprises (MSEs) in Kyrgyzstan, with a special focus on businesses owned or led by women - at least 40 per cent of the funds raised will be allocated to them. The project is being implemented through Kompanion Bank, which has a strong position in rural areas and experience working with women entrepreneurs.

According to ADB Assistant Treasurer Jonathan Grosvenor, issuing bonds in Kyrgyz som strengthens the bank's presence in local currencies, which helps mitigate currency risks in member countries.

Record Currency Management portfolio manager Renata Kreuzig said the transaction supports inclusive growth, gender equality and economic sustainability, in line with the objectives of the Record EM Sustainable Finance Fund.