National Expert on SME financing and support (SSA)

Background:
 

The OSCE Programme Office in Bishkek (POiB) supports the Ministry of Economy and Commerce (MoEC) in the development of National Strategy for Small and Medium Enterprise (SME) Development 2026 – 2030 (SMEs Strategy), aimed at fostering sustainable growth and competitiveness of small and medium enterprises in Kyrgyzstan.

To ensure a comprehensive and high-quality drafting process of SMEs Strategy, the POiB along with other donors (UNDP and EDB) will support eight experts to contribute to different thematic areas, including policy formulation, institutional development, access to finance, innovation promotion, and regional SME development. The involvement of both national and international expertise will allow the Strategy to reflect best global practices while remaining tailored to the local economic context.

The SMEs Strategy will include a detailed analysis of existing financial instruments and support measures available to SMEs. This will cover public and private financing mechanisms, concessional lending programmes, guarantee and interest rate subsidy schemes, grant initiatives, and other financing tools. Particular attention will be given to improving access to finance for women entrepreneurs, youth-led enterprises, social businesses, and environmentally sustainable (“green”) enterprises, as well as to expanding alternative financing options such as venture capital, investment funds, crowdfunding, and SME bond issuance.

The SMEs Strategy will also guide the MoEC’s shift from fragmented support measures to a unified “smart financing” system that combines public and private resources to stimulate SME growth. This system will encompass long-term affordable financing through the Som Development Fund, risk-sharing via the Portfolio Guarantee Agency, a competitive auction-based interest rate subsidy mechanism, and the development of alternative financial instruments such as factoring, leasing, supply chain finance, and crowdfunding. It will also promote financial literacy among entrepreneurs, ensuring regional access and inclusivity for women, youth, and social enterprises.

Under project Activity 2.5, the POiB will engage a local expert for a one-month period to provide analytical and advisory support to MoEC to assess the current financial instruments and design a unified strategy for SMEs financing, incorporating sustainability, inclusiveness, and innovation principles for further including into the final Strategy document.
 

Objective of Assignment: 
 

Under UB project Activity 2.5, “Supporting development of National Strategy for Small and Medium Enterprises 2026 – 2030” to conduct a comprehensive analysis of financial instruments and support measures for SMEs in Kyrgyzstan and contribute to the design of an effective and inclusive system of financing to incorporate into SMEs strategy.

Tasks and Responsibilities:
 

Under the overall supervision of the Economic and Environmnetal Department, the successful candidate will be tasked with the following duties:

1. Conduct a review of existing SMEs financing instruments and support measures in Kyrgyzstan, complemented by consultations with government agencies, financial institutions, business associations and development partners. The expert shall conduct at least two regional field missions (Naryn oblast and Kemin regions).

2. Design a “smart financing” architecture integrating public and private financial resources into unified framework to support SMEs in Kyrgyzstan;

3. Develop recommendations for a concept of an auction-based interest rate subsidy system aimed at increasing competition among banks and reducing interest rates for entrepreneurs;

4. Develop recommendations for introducing alternative financing instruments (leasing, factoring, supply-chain financing, crowdfunding, venture capital, investment funds);

5. Prepare proposals for integrating financial literacy and business capacity-building programmes (including digital tools such as SMEs HUB);

6. Prepare proposals for integrating sustainable and green financing principles into the public support for SME development;

7. Develop a final report including proposals and recommendations for integration to National Strategy for Small and Medium Enterprise Development 2026 – 2030;

8. Prepare and deliver presentations of project solutions and proposals related to the financial component of the Strategy to stakeholders;

9. Prepare a complete package of documents for inclusion in the SMEs Strategy;

10. Submit final deliverable report detailing the performed work, challenges encountered, lessons learned.

Deliverables:
 

1. Protocols summarizing consultations and working meetings with key national and regional stakeholders; 

2. A report summarizing findings on current SMEs financing instruments and programmes, evaluating their effectiveness, inclusiveness, and sustainability; the report shall include recommendations for integrating relevant international best practices into the National Strategy for Small and Medium Enterprise Development 2026 – 2030;

3. Recommendations/concept notes for key components of the system, covering:

   • the Som Development Fund as a source of long-term, low-interest financing with defined governance, selection, and monitoring mechanisms;

   • Portfolio Guarantee mechanisms and risk-sharing frameworks between the state and financial institutions;

   • public co-financing mechanisms to stimulate bank and MFI participation in SME programmes.

4. Recommendations for the concept of an auction-based subsidy mechanism, including proposals on the regulatory and technical framework, and electronic mechanisms for project selection, subsidy calculation, and monitoring;

5. Proposal for establishing an SME Support Consortium to serve as a coordination platform among government institutions, development partners, banks, business associations, and international stakeholders;

6. Proposals and policy note outlining regulatory and institutional measures to support the development of alternative financing instruments in Kyrgyzstan;

7. Proposal concept for financial literacy programmes and entrepreneurship acceleration tools.;

8. Analysis of the current status and potential of sustainable and green finance in Kyrgyzstan, including existing programs of international partners and financial institutions.

9. Recommendation for the creation of a national system for stimulating green investments, including tax incentives, grant programs, and risk compensation instruments.

10. Concept paper on the role of financial institutions and banks in promoting green instruments, including implementation of the Environmental, Social and Governance standards in loan portfolios. Monthly deliverable report is submitted and approved by the MoEC and the POiB;

11. Final report including estimated financial projections and recommended funding structure for strategy implementation; 

    Summary of the results of conducted stakeholder consultations;

12. Presentation including documented feedback from stakeholders and recommendations for refining the financial component of the (SMEs Strategy) based on the outcomes of the dialogue process.

13. Package of regulatory and programme documents ready for submission to Kyrgyzstan’s Cabinet of Ministers, including all:

    • proposals for the draft Resolution of the Cabinet of Ministers of the Kyrgyz Republic on approval of the SMEs Strategy;

    • the text of the financial section of the SMEs Strategy;

    • an action plan and indicator matrix related to financial instruments;

    • and an explanatory note to the draft regulatory act;

14. Final deliverable report is submitted and approved by the MoEC and the POiB.
     

For more detailed information on the structure and work of the OSCE Programme Office in Bishkek, please see: OSCE Programme Office in Bishkek | OSCE

Necessary Qualifications:

• University degree in economics, finance, or business administration; advanced degree preferred

• At least 7 years of professional experience in the financial sector and public administration, including senior executive roles in banking, microfinance, and financial regulation.

• Extensive expertise in Kyrgyz Republic financial market, lending and guarantee mechanisms.

• Proven experience in analyzing the programs efficiency and designing proposals for their improvements.

• Strong analytical, leadership, and coordination skills, with experience in stakeholder engagement at national and international levels.

• Fluent in Russian and Kyrgyz; advanced English proficiency for reviewing international practices and documentation.

• Proficiency in Microsoft Office, financial modelling tools, and online analytical platforms.

• Demonstrated gender awareness and sensitivity, and an ability to integrate a gender perspective into tasks and activities;

• Ability and willingness to work as a member of team, with people of different cultural, and religious backgrounds, different gender, and diverse political views, while maintaining impartiality and objectivity.

Remuneration Package:

Remuneration will be based on the selected consultant's/expert's qualifications, experience, the tasks and deliverables for this position and in accordance with the OSCE established rates.

If you wish to apply for this position, please use the OSCE's online application link found under https://vacancies.osce.org/.

The OSCE retains the discretion to re-advertise/re-post the vacancy, to cancel the recruitment or to offer an appointment with a modified job description or for a different duration.

Only those candidates who are selected to participate in the subsequent stages of recruitment will be contacted.

The OSCE is committed to diversity and inclusion within its workforce, and encourages qualified female and male candidates from all religious, ethnic and social backgrounds to apply to become a part of the Organization. 

Candidates should be aware that OSCE officials shall conduct themselves at all times in a manner befitting the status of an international civil servant. This includes avoiding any action which may adversely reflect on the integrity, independence and impartiality of their position and function as officials of the OSCE. The OSCE is committed to applying the highest ethical standards in carrying out its mandate. For more information on the values set out in OSCE Competency Model, please see https://jobs.osce.org/resources/document/our-competency-model.

Please be aware that the OSCE does not request payment at any stage of the application and review process.