The number and amount of guarantees of OJSC “Guarantee Fund” are growing, and the volume of bank loans granted under guarantees is increasing.
The amount of guarantees approved by the OJSC Guarantee Fund as of July 31, 2019 amounted to 1.2 billion KGS. The volume of loans approved by Partner Banks amounted to 4.1 billion KGS.Since the beginning of this year, 262 guarantees have been approved in the amount of 457.8 million KGS. The volume of loans approved by partner banks amounted to 1.4 billion KGS.
Shares of Banks and OJSC “Guarantee Fund” in sectors of the economy
The issue of guarantees is accomplished in partnership with 12 commercial banks of the Kyrgyz Republic and Russian-Kyrgyz Development Fund (RKDF).The high position of OJSC “Guarantee Fund” in the shares of sectors of the economy in comparison with the banking system can be noted.For instance, industry: 8% (Banking System), and 20% (OJSC “Guarantee Fund”); agriculture – 20% and 18%, transport – 2% and 6%; trade – 26% and 21%, harvesting / processing of products – 1 and 15 %, construction – 9 and 3%, services – 3% and 7%; other industries – 9% and 10%, respectively.
In the course of the events held from July 22 to 26, employees of OJSC “Guarantee Fund” made presentations of the guarantee system and clarification of the mechanisms for providing guarantees.
In the period from July 22 to 26, the head of the Regional Development Department of the OJSC “Guarantee Fund”, Kamchybek Aaliev, visited Talas region, where he held meetings with entrepreneurs, and seminars for employees of partner banks.
Kamchybek Aaliev, in particular, together with the regional representative Bolot Kozhekeev, visited the regional center, Bakai-Ata, Kara-Buurinsky and Manas districts. The meetings and seminars were attended by the heads of credit departments and loan specialists of Optima Bank, KICB, Demirbank, FINKA Bank, Ayil Bank, RSK Bank, Bakai Bank, Kyrgyzstan, Companion.
Banking employees received clarifications on the new guarantee products by OJSC “Guarantee Fund”, also on determining the winners of the incentive share nominations among partner banks, the results of which will be summarized this fall.
Additionally, a meeting with the head of the apparatus of the Plenipotentiary Representation of the Government of the Kyrgyz Republic in Talas region, Yrsakhun Kulushev, was held. The issues of guarantee support for local entrepreneurs, the implementation of the program “One district- One enterprise” (OROP) were discussed.
Also, employees of OJSC “Guarantee Fund” met with the Executive Director of the JIA Association, Tilebaldy Uraiimzhanov, with the heads of dairy enterprises of Talas region –Bakyt Tuuganbaev (Talas Daamy LLC, butter, cheese production, Talas city). Myrzakan Davletaliev (Talas-Sut CJSC, butter, cheese, milk powder droduction, Talas city), Zhanar Dzholoyev (Emilia LLC, butter and cheese production, Kyzyl-Adyr village, Kara-Buura district), and LLC directors of “Ezhigey” (cheese production) and LLC “Urmaral” – Chynara and Gulnara Tynysova’s.
All listed enterprises to one degree or another need financial support. Some of them is planning expansion, some is modernizing, while another needs working capital. All they are ready to meet with the management of OJSC “Guarantee Fund” in order to discuss in detail possible solutions to their problems.
By the end of the trip, Kamchybek Aaliev gave an interview to Talas TV, where he talked about the activities of OJSC “Guarantee Fund” in supporting small and medium enterprises (you can watch the video in the “Video Publications” section of the website).