Last week, the regular meeting of the Regional Investment Council (RIC) was held in Osh with the participation of representatives from financial institutions, business associations, and international development partners.

The meeting took place in the conference hall of the Office of the Plenipotentiary Representative of the President of the Kyrgyz Republic in Osh Region. The event was attended by Deputy Plenipotentiary Representative Ilyaz Tashbaev, the team of the RIC Secretariat in Osh, as well as representatives of the banking sector and the regional business community.

During the meeting, it was noted that the RIC serves as an important platform for strengthening open dialogue between government authorities and the private sector, as well as for advancing projects within the framework of public–private partnership (PPP). Participants discussed ways to expand entrepreneurs’ access to financial resources, promote “green” projects, and simplify documentation requirements for obtaining loans.

Special attention was given to the need to expand the network of bank branches, ATMs, and POS terminals, as well as to promote QR-code payment systems. Participants emphasized that the development of digital payments contributes to increasing trade turnover and reducing the shadow economy.

It was also proposed to enhance efforts aimed at improving financial literacy among citizens and entrepreneurs and to conduct awareness-raising activities on the use of modern banking services — such as online lending, mobile banking, and QR payments.

The work of the Regional Investment Councils (RIC) is carried out under the Offices of the Plenipotentiary Representatives of the President of the Kyrgyz Republic in the regions. The RIC Secretariats operate within the framework of a tripartite agreement between the Secretariat of the Council on Business and Investment Development under the Cabinet of Ministers of the Kyrgyz Republic, UNDP in the Kyrgyz Republic, and the PPP Center under the National Investment Agency. The European Bank for Reconstruction and Development (EBRD) provides support for the implementation of the Council’s initiatives.