BAKU, Azerbaijan, September 22. President of
Kyrgyzstan Sadyr Japarov discussed prospects for expanding
financial and banking cooperation with Citibank Managing Director
Stephanie von Friedeburg in New York on September 21.
According to the press service of the President of Kyrgyzstan,
the meeting was held as part of President Sadyr Japarov’s working
visit to the United States.
"During the meeting, the parties discussed prospects for further
developing financial and banking cooperation, including in the
areas of international settlements, investment cooperation, and
expanding Kyrgyz banks’ access to international financial
infrastructure," the statement said.
The parties separately noted the experience of cooperation
between Kyrgyz banks and Citibank in the financial sector’s access
to international capital markets. In April 2026, state-owned Eldik
Bank placed its debut Eurobonds worth $500 million, with Citigroup
acting as one of the lead arrangers and bookrunners of the
transaction.
The parties also discussed the possibility of establishing new
correspondent banking relationships between Kyrgyzstan’s
state-owned banks and Citibank, as well as the prospect of opening
a branch of the US bank in the country.
Sadyr Japarov briefed Citibank representatives on major projects
being implemented in Kyrgyzstan, including the
China-Kyrgyzstan-Uzbekistan railway, the Kambar-Ata-1 hydropower
project, the Asman eco-city, and the Ala-Too Resort mountain
tourism cluster.
Citibank representatives confirmed their interest in
establishing correspondent banking relationships with Kyrgyzstan’s
state-owned banks in the near future and expressed their intention
to consider opportunities for the bank to participate in projects
being implemented in the country.
