To promote guarantee funds in the world the World Bank Group developed 16 Principles for Public Credit Guarantee Schemes (CGSs) for SMEs. These principles are widely applied in Europe, Asia, America and in many countries of the world. They provide institutional frameworks for successful activity of guarantee funds.
These 16 principles have been implemented in OJSC “Guarantee Fund” since March, 2017. Since the start, OJSC “Guarantee Fund” has been applying high standards in its activity. OJSC “Guarantee Fund” has implemented:
- Legal and regulatory framework;
- Guarantee issue mechanism;
- Effective and comprehensive risk management system, which determines, evaluates and manages related risks;
- Monitoring and guarantee assessment.
See 16 principles for CGSs by following the link: 16 принципов Всемирного Банка деятельности гарантийных фондов.