November 24, Bishkek - The Ministry of Economy and Commerce has published detailed project business plan templates on its website that entrepreneurs can use in preparing to attract investments and grants. The documents were developed to stimulate and expand the access of entrepreneurs to financing in international financial institutions (IFIs). The package of documents includes a project business plan template, a financial model template, and instructions for a financial model template.

The lack of a steady stream of well-prepared projects to receive financial support from IFIs is holding back investment for sustainable development in Kyrgyzstan. However, IFI resources can play a potentially decisive role in accelerating growth, creating jobs, eliminating inequalities and providing access to finance for small and medium enterprises in rural areas, including for the most disadvantaged segments of the population.

In response to these challenges, UNDP in the Kyrgyz Republic, in close cooperation with the Ministry of Economy and Commerce of the Kyrgyz Republic, provided technical support in the development of business plan templates for various business sectors to stimulate and expand access to finance in the SME sector. Entrepreneurs will be able to use these templates when preparing a business plan for their project proposals to raise funding.

Templates of business plans for projects on several topics are available on the MEC KR website. More business plan templates will be added to the website soon for public use.

“We have Programmes for entrepreneurs in Kyrgyzstan to help them at every stage of building and improving their business. Often, local entrepreneurs lack the experience and knowledge to correctly draw up the documents allowing them to apply for grants. Therefore, MEC initiated developing templates that could be useful for both beginners and experienced entrepreneurs. Now, these templates are available on our website”, - said Daniyar Amangeldiev, Minister of Economy and Commerce of the Kyrgyz Republic.

The business plan template and financial model is an example of a project feasibility justification. The document assists entrepreneurs in the design of their projects or business plan to attract investment. Using the template will help business leaders assess their resources and capabilities in the industry, think over business tactics, and calculate the time frame for making a profit.

“The business sector in the Kyrgyz Republic has great potential. Even though the world has been going through difficult times in recent years, there are all conditions for the development and strengthening of well-being. We know that human capital needs comprehensive support. In this regard, UNDP in Kyrgyzstan provides support aimed at overcoming barriers and accelerating investment flows to priority projects, considering national priorities,” said Louise Chamberlain, UNDP Resident Representative in the Kyrgyz Republic.

The initiative to strengthen the capacity of financial institutions and entrepreneurs in the preparation and implementation of investment development projects in the Kyrgyz Republic, including the development of sample project proposals, is carried out with the financial support of the Russian Federation within the framework of the project “Capacity Building for Sustainable Development Financing in the CIS Region”, implemented by the UNDP Office in the Kyrgyz Republic in close cooperation with the Ministry of Economy and Commerce of the Kyrgyz Republic, the Eurasian Development Bank and the Russian-Kyrgyz Development Fund.