The Prime Minister Muhammadkaliy Abylgaziev: Improving access to finance for small and medium-sized enterprises is the basis for the development of regions
The Prime Minister Muhammadkaliy Abylgaziev held a working meeting devoted to the discussion of the current activities of OJSC “Guarantee Fund” and the state enterprise “The State Lottery Company”.
The Head of the Government noted that OJSC “Guarantee Fund” was established to assist entrepreneurs who have promising projects, but do not have sufficient collateral to obtain a loan for their implementation.
“The Government adopted the Concept of Regional Policy for the period 2018-2022, which is aimed at creating support centers for growth based on 20 pilot cities in the country. Within its implementation, we must properly place emphasis and promote priority areas, including the development of the agro-industrial complex, processing industry, tourism, trade. In 2018, it is necessary to lay the foundation for future systemic changes in the development of regions. The Fund in its work should give priority to support projects aimed at creating new industries in the regions, ” – said Muhammadkaliy Abylgaziev.
The Chairman of OJSC “Guarantee Fund” Malik Abakirov informed about the current activities and plans for the next few years.
“Our fund works for 1.5 years. During this time, more than 500 new jobs, 22 export-oriented projects worth KGS 63 million were created, 440 guarantees were issued. Approved guarantees for types of business accounted for 45% for small and medium businesses and 15% for large businesses. One of the achievements of the fund is assistance in the creation of 15 new enterprises under the program “One region – one enterprise”. According to results of 2017, the fund’s net profit amounted to KGS 12.6 million with a plan of KGS 8.5 million, ” – he said.
The Prime Minister instructed to take the necessary measures to support the Guarantee Fund, including working with the National Bank of the Kyrgyz Republic on its entry into the founders by acquiring 49% of the Guarantee Fund and investing KGS 650 million in the authorized capital of the organization.
“This step will improve the access to finance for small and medium-sized enterprises in case of insufficient collateral and will become a catalyst for entrepreneurship growth within the framework of 2018 as the Year of Regional Development announced by the President,” said Muhammadkaliy Abylgaziev.
During the meeting, the presentation was also made by the director of the state enterprise “The State Lottery Company”, Talant Kalykov, who said that the launch of the lottery under the brand “Kyrgyz Loto” was planned for June-July 2018.
“Currently, a program for the implementation, accounting and verification of lottery tickets and a number of other organizational issues are being developed. It should be noted that the state lottery is held to finance social projects, in particular, the development of education, science, culture and sports. In the near future we will begin active work, ” – said Kalykov.
Muhammadkaliy Abylgaziev recommended that “TheState Lottery Company” think about the implementation of lottery tickets during the III World Nomad Games on the shore of Issyk-Kul Lake.
The Head of the Government stressed that the Government will provide necessary support including financial support for the state enterprise “The State Lottery Company”.
Information Support Department of the Government Apparatus of the Kyrgyz Republic