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  • Providing guarantees to entrepreneurs, including exporters

    Assistance in small and medium-sized enterprises development

    VIDEO “HOW TO OBTAIN THE SERVICES OF OJSC “GUARANTEE FUND”

    OJSC “Guarantee fund” – a financial instrument for development

    OJSC “Guarantee Fund” is aimed at providing access to financing for small and medium-sized enterprises (SMEs) in case of insufficient collateral throughout the Kyrgyz Republic.

    THE PRESIDENT SIGNED THE LAW “ON GUARANTEE FUNDS IN THE KYRGYZ REPUBLIC”

    On April 13, 2019, the President of the Kyrgyz Republic, Sooronbai Jeenbekov, signed the Law “On Guarantee Funds in the Kyrgyz Republic”.

    The law was enacted by the Jogorku Kenesh of the Kyrgyz Republic on March 7, 2019.

    The purpose of the enacted Law is to improve the legal regulation for establishment and development of guarantee funds in the Kyrgyz Republic.

    The law defines the legal and economic bases for establishment and activity of guarantee funds.

    With its entry into force, the current Law of the Kyrgyz Republic of July 30, 2013 No. 167 “On Guarantee Funds in the Kyrgyz Republic” will become invalid.

    The law enters into force 15 days after the date of official publication.

    Official website of the President of the Kyrgyz Republic

    “When I was the Prime Minister, we established Guarantee Fund. Why regions were not developing? Because loans and fiscal policy did not reach them. Entrepreneurs did not have property to put as collateral. Now attention is paid to this problem and state Guarantee Fund helps them. Financing from Guarantee Fund has tripled, guarantees amounting to KGS 755 million were issued to 655 projects. Partner banks of Guarantee Fund doubled loan issue and generally issued loans amounting to about KGS 3 billion. This amount will increase, special attention will be paid to the regions and processing”. 

    From the speech of the President of the Kyrgyz Republic Sooronbai Jeenbekov on February 21, 2019 during the meeting with residents of Suzak district of Jalal-Abad region.

    THE CHAIRMAN OF THE MANAGEMENT BOARD OF OJSC “GUARANTEE FUND”, MALIK ABAKIROV, TOLD JOURNALISTS ABOUT THE PROGRAM OF DEVELOPMENT OF INTENSIVE SHEEP HUSBANDRY IN KYRGYZSTAN

    Press conference of OJSC “Guarantee Fund”.

    On December 18, “Kabar: news agency held a press conference of the Chairman of the Management Board of OJSC “Guarantee Fund”, Malik Abakirov, dedicated to the program of “Development of Sheep Husbandry in the Kyrgyz Republic” developed by OJSC “Guarantee Fund” as part of the Year of Regional Development. The conference was also attended by farmer Aral Abdyrasulov.

    “OJSC “Guarantee Fund”, within the framework of implementation of the Decree of the President of the Kyrgyz Republic” on declaring 2019 the Year of Regional Development and Digitalization”, and the Concept of the Regional Policy of the Kyrgyz Republic for 2018-2022, carries out diverse activities to assist entrepreneurship in regions of the country. Priority is given to the development of industrial production, agriculture and processing enterprises, including export-oriented industries”, said Mr. Abakirov.

    In 2019, 89 percent of guarantees were sent to the regions, and 80 percent of guarantees were issued to priority sectors, including agriculture, manufacturing, agricultural processing, and tourism.

    In order to support the efforts of the President of the Kyrgyz Republic and the Government of the Kyrgyz Republic to enhance regions, reform industrial and agricultural sectors, process agricultural products, OJSC “Guarantee Fund” has developed the program “Development of Sheep Husbandry in the Kyrgyz Republic”, continued Malik Abakirov.

     

    Novelty of “Development of Sheep Husbandry in the Kyrgyz Republic” Program

    The concept of the program of OJSC “Guarantee Fund” for the development of the livestock cluster in the direction of “Intensive Sheep Husbandry” involves the use of the stall method of raising sheep for meat production. For this, it is necessary to create a solid fodder base using extruded feed, and to improve veterinary service. This will contribute to an increase in the number of meat-producing sheep in the next three-five years from 6.2 million (as of the end of 2018) to 7.5 million sheep along with preservation of pastures from degradation.

    More, this concept will make it possible to implement the value chain (VC) form the production of feed, meat production, processing of wool and hides to export products. The development of VC in this sector contributes to the stable production of competitive agricultural products, the application of best practices in sheep farming, access to foreign markets, export of products and an increase in the contribution of the livestock sector to the GDP.

    In practical terms, since December, OJSC “Guarantee Fund” prepared a number of business plans for financing of farmers, using keep sheep with a stall method, Mr. Abakirov further said.

    Pros of the program

    • The issue of pasture preservation is being addressed.
    • If with ordinary feeding, the daily gain of sheep is 90-100 grams, when feeding with extruded feed, the daily gain of sheep is 130-140 grams.
    • If it takes 100 days to reach the required sheep weight while ordinary feeding, it takes only 80 days to get to the proper condition when feeding sheep with extruded feed.
    • Food extrusion machines (extruders) will be sold as part of the program.
    • The number of people interested in this program is increasing daily.

    Prospects for Implementation of the Program of OJSC “Guarantee Fund” “Development of Sheep Husbandry” in the Kyrgyz Republic

    During the implementation of the program of OJSC “Guarantee Fund” “Development of Sheep Husbandry in the Kyrgyz Republic”, significant results will be achieved in sheep husbandry for meat production that has a great export potential:

    • Training will be carried out, an existing farm will be demonstrated, more it is planned to develop and distribute brochures on the keeping and feeding of sheep.
    • In each region, 10-20 farms will be designed with a stall in the number of one-two thousand sheep.
    • Annual increase in the number of sheep will be by 300-400 thousand heads.
    • By 2023, the number of sheep will increase to 7.5 million heads.
    • By 2023, meat production will amount to 144 thousand tons per year.
    • Increase in meat export volumes will be up to 20 thousand tons per year.

    The presentation of “Development of Sheep Husbandry” program was accompanied by a video presentation. Also, Malik Abakirov and Aral Abdyrasulov answered questions of journalists. After the press conference, number of media representatives visited the farm of Mr. Abdyrasulov.

    Procedure for obtaining guarantee. More…

    The Borrower contacts one of partner banks of OJSC “Guarantee Fund” with loan application

    The Bank independently considers the application of the Borrower, analyzes the submitted documents and assesses the financial condition. If the only obstacle to obtain a loan is insufficient collateral, then the Partner Bank informs the Borrower about the possibility of attracting guarantee of OJSC “Guarantee Fund”.

    If the Borrower agrees to obtain a guarantee of the Fund, the Partner Bank will deliver a signed application to OJSC “Guarantee Fund” for guarantee provision. Simultaneously with this application, the Partner Bank sends the required package of documents.

    OJSC “Guarantee Fund” in short term from the moment of receiving application takes a decision according to Guarantee application.

    In case of a positive decision, a trilateral guarantee agreement is concluded.

    The Borrower before obtaining a loan, pays the guarantee commission, according to the established tariff.

    Obtaining a loan.

    NEWS

    Happy New Year!

    Dear partners, entrepreneurs, colleagues, and friends! Happy New Year! I wish you good luck in the new year, so that you achieve all your goals! In the past year, we completed a lot of creative work together, laid the foundations for the further development of our...

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    New Year Guarantees!

    According to the latest data, as of December 31 of the outgoing year, OJSC “Guarantee Fund” approved 1 602 guarantees in amount of 1 675 million KGS. The volume of loans approved by partner banks amounted to 5 647 million KGS. Since the inception of this year, 946...

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    GUARANTEES: SOCIO-ECONOMIC EFFECT

    Support of Regions. The results of the activities of OJSC “Guarantee Fund” for 2019 and previous years, show an increase in quantitative and qualitative indicators, confirming the correctness of the chosen strategy of activity with emphasis on supporting regional...

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    RETURN BISHKEK THE STATUS OF GARDEN CITY!

    On New Year’s Eve the Chairman of the Board of Directors of OJSC “Guarantee Fund” Orozbek Kenzhetaev with his family planted spruce seedlings in one of the streets of Bishkek. “This is a traditional occupation for me. I would like to see our capital city like it was...

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    OJSC “GUARANTEE FUND” TARGET GROUP

    Entrepreneurs (including women entrepreneurs) of SME segment with activities focused on the production and processing of agricultural products, industry, services, as well as SMEs with export-oriented and import-substituting activities.

    OJSC “GUARANTEE FUND” OPERATING CONDITIONS

    The maximum guarantee amount is up to 50% of the loan amount and not more than 10% of the capital amount (KGS 7 million or the equivalent of USD 100 thousand).

    The process of obtaining a loan with OJSC “Guarantee Fund” More…
    The client comes to the bank for a loan and if they cannot get the necessary amount due to insufficient collateral, the client and the bank apply to OJSC “Guarantee Fund” for guarantee.

    OJSC “GUARANTEE FUND” MISSION

    The mission of the Fund is to ensure the dynamic and sustainable growth of the economy of the Kyrgyz Republic by developing a market of guarantees, to increase the share of SMEs to the country’s GDP and to improve the population’s welfare.

    OJSC “GUARANTEE FUND” FUNCTIONS

    • Providing a guarantee to entrepreneurs, including exporters;
    • Participation in the Program of the Government of the Kyrgyz Republic “Financing of Agriculture”;
    • Providing a guarantee to agricultural producers;
    • Assistance in the development of small and medium enterprises;
    • Assistance in the development of Regional Guarantee Funds.

    OJSC “GUARANTEE FUND” VISION

    The Fund will become a stable developing financial organization of the Kyrgyz Republic providing SMEs with the ability to obtain affordable loans by development of a guarantee system.

    By the end of 2020 the Fund will become the leading financial institution in the market of the guarantee provision for SMEs and will contribute to attract potential local and international investors.

    OJSC “GUARANTEE FUND” (THE FUND) AND REGIONAL GUARANTEE FUNDS (RGF) INTERACTION

    • Institutional development of RGF;
    • Possibility of RGF’s partial capitalization, Fund – 70%; local government-30%;
    • Opening of Fund’s branches in regions with no RGF and no possibility of capitalization from local government;
    • Conducting potential customer evaluation by RGF to provide guarantees under a contract with the Fund;
    • Providing a reguarantee for large projects
    • Issuance of guarantees to businessmen.

    Partners