The Aga Khan Development Fund has acquired shares from three shareholders of the Kyrgyz Investment Credit Bank (KICB), as reported by the Kyrgyz Stock Exchange. The financial institution purchased 2 percent of shares from the International Finance Corporation (IFC), the German Investment and Development Corporation (DEG), and the European Bank for Reconstruction and Development (EBRD).
As a result, IFC, DEG, and EBRD no longer hold any shares in KICB, with the Aga Khan Fund now owning 72 percent of the shares. Another 18 percent of shares belong to "Habib Bank Limited," while 10 percent belong to the State Property Management Agency.
It is noted that the distribution of shares among shareholders was carried out as part of a phased sale of shares according to the general share purchase agreement dated December 14, 2017.
