As of July 29, 2019, OJSC “Guarantee Fund” have approved 916 guarantees for a total amount of 1.2 billion KGS. With the guarantees of OJSC “Guarantee Fund”, Partner Banks have approved loans in total of 4.1 billion KGS.
Since the beginning of the year, as of July 29, 260 guarantees have been approved in the amount of 454.7 million KGS. The volume of the loans for entrepreneurs amounted to 1.4 billion KGS.
To this date, OJSC “Guarantee Fund” has contributed 13 percent of the third loan of the Russian-Kyrgyz Development Fund (100 million KGS), four guarantees were issued in the amount of 13 million KGS.
OJSC “Guarantee Fund” also provides advisory services, holds training seminars for regional entrepreneurs and bank employees on guarantee mechanisms, and assists in the development of business plans.
Press Conference of OJSC “Guarantee Fund”.
On July 29, 2019, the “Kabar” news agency held a press conference for the media of the Chairman of the Management Board of the OJSC Guarantee Fund, Malik Abakirov, dedicated to the results of activities for the first half of 2019, in supporting small and medium enterprises of the republic, and important events that occurred during this period. Media agencies such as “ELTR”, “Kabar”, “AKIpress”, “Birinchi Radio”, and online publications as “Aimak”, “Borbor.kg” and others participated in that conference.
The Chairman of the Management Board of the OJSC Guarantee Fund, Malik Abakirov, summarized the results of activities for the first half of 2019, and discussed about important events, including the adoption of a new amendments of the law on guarantee funds, becoming of the National Bank of the Kyrgyz Republic one of the shareholders, enhancing the authorized capital up to 1.132 billion KGS, a program of participation in the management of enterprises and the development of mass entrepreneurship in Kyrgyzstan, high appreciation of Asian Development Bank and export of the Kyrgyz model of guarantee funds, participating in World Bank project, international conferences, opening of the branch of the Guarantee Fund in Naryn region, and other events.
Results of the first half of the 2019
The performance indicators of OJSC “Guarantee Fund” demonstrate the effective use of capital for guarantees, satisfactory quality of the guarantee portfolio, high dynamics of institutional growth and an increase in the volume of assistance to the development of small and medium enterprises. In the first half of the 2019, as of June 30, 225 guarantees were approved with the total amount of 385 million KGS. Partner Banks issued 1.153 billion KGS in loans to entrepreneurs.
In total, during the period from 2016 to July 29, 2019, the Fund provided 916 guarantees in the amount of 1.2 billion KGS. Partner Banks with the guarantee of the Fund issued loans to entrepreneurs in the amount of 4.1 billion KGS.
Due to the guarantees provided, 1601 new jobs were created and 7590 existing ones were supported.
Women entrepreneurs have received 248 guarantees in the amount of 285 million KGS. The share of female entrepreneurship in the total volume of guarantees was 28 percent.
57 guarantees were issued in the amount of 202 million KGS for export-oriented projects.
At the end of the press conference, Chairman of the Board Malik Abakirov answered questions from journalists.