OJSC “Guarantee Fund” assists entrepreneurs in the implementation of business plans, providing them with guarantees for obtaining bank loans in case of lack of collateral. All work is carried out in accordance with the approved Development Strategy of the OJSC “GF” for 2019-2023. In 2019, the activities of the OJSC “GF” take place under the Year of Regional Development and Digitalization of the country, declared by the President of the Kyrgyz Republic S. Jeenbekov.
In total, as of May 23, 2019, the OJSC “GF” approved 831 guarantees in the total amount of KGS 1.022 billion. Partner banks approved guaranteed loans in the amount of KGS 3.534 billion.
From the beginning of 2019 to date, 175 guarantees were approved in the amount of KGS 267.4 million. The amount of bank loans reached KGS 782.1 million.
As of May 23, 59% of the RKDF loan was fully disbursed. The guarantees amounting to KGS 59.2 million were issued to 38 projects of regional entrepreneurs. This RKDF loan has a targeted character – support for regional entrepreneurs. By the way, this is the second loan obtained from the RKDF. The first loan was also obtained in the amount of KGS 100 million and successfully disbursed in 2018.
Thanks to guarantees of OJSC “GF”, entrepreneurs of various industries have an opportunity to strengthen their material and technical position, create new and maintain existing jobs, and contribute to the development of local infrastructure.
In addition to providing guarantees to entrepreneurs, OJSC “GF” implements a number of programs aimed also at promoting SMEs and regions in general, including “One region – one enterprise” (OROE) and others.
The OROE program, for example, can become the locomotive of development for regions, because it contributes to the creation of new enterprises and new directions in existing enterprises, that will inevitably lead to accelerated development of local economies. To date, 34 guarantees have been provided in the amount of KGS 103.6 million to projects of entrepreneurs in various regions and industries, including export-oriented ones. The amount of guaranteed loans reached KGS 308.2 million.
The OROE program is implemented jointly with entrepreneurs, partner banks and local authorities.
Committee for the initial selection of projects with the participation of representatives of local governments, business communities, and financial institutions have been established in each district and region;
In order to receive assistance in the framework of the OROE program, entrepreneurs should contact the Committee for the initial selection of projects in the local state administrations, regional offices of OJSC “GF” or partner banks.