The objective of this study was to provide an assessment of the SME sector in Kyrgyzstan, through a careful analysis of the latest trends in development of the Kyrgyz business environment and the legal framework relevant for SMEs in general and women-led SMEs in particular.  The assessment provided the EBRD with a detailed overview and description of the key constraints faced by each sub-segment of SMEs and women-led SMEs in accessing finance, while also including recommendations on possible measures to address the supply- and demand-side challenges they meet in accessing finance and acquiring the knowledge and skills necessary to their successful development.