Information about the “Financial Sector Development” Project
Government of the Kyrgyz Republic on July 11, 2013 received a loan and grant from the International Development Association (hereinafter – the World Bank) to finance the implementation of the project "Financial Sector Development" (FSD Project P125689). The project includes as its main component (Component 2) the expansion of financial services through the branch network of "Kyrgyz Post" (KP). This component will transform the existing postal service into an economically efficient channel for providing basic financial services to ensure their accessibility to poor populations and rural communities. The current range of financial services of the State Enterprise Kyrgyz Post (KP) is mainly limited to domestic money payments and paper-based payment processing. These services include: distribution of funds for state pensions and social security (benefits); collection of cash payments for utilities,…