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  • EMPLOYEES OF OJSC “GUARANTEE FUND” CONVERSED MECHANISMS FOR ISSUANCE OF GUARANTEES WITH ISSYK-KUL BANKERS

    EMPLOYEES OF OJSC “GUARANTEE FUND” CONVERSED MECHANISMS FOR ISSUANCE OF GUARANTEES WITH ISSYK-KUL BANKERS

    Seminars in regions.

    Another trip of employees to regions took place. This time, they visited Issyk-Kul region, where they held seminars on mechanisms for issuing guarantees.

    Within the period from August 28 to 30, 2019, the head of the Guarantee and Product Development Department, Eric Talasbaev, and leading specialist in medium sized enterprises sector of the same department, Ermek Ibraev, held training seminars for representatives of the branches of partner banks of OJSC “Guarantee Fund”, alternately in cities of Balykchi, Cholpon-Ata, and Karakol.

    When presentations of the activities of OJSC “Guarantee Fund” on guarantee support for entrepreneurs ended, discussions on mechanisms for issuing guarantees and exchange of views was held between the employees of the fund and the heads of branches, and loan specialists.

    The knowledge of banking specialist about such a financial instrument as guarantees, the specifics of interaction when issuing loans under the guarantees of OJSC “Guarantee Fund”, the formation of a package of necessary documents from entrepreneurs to obtain a guarantees is greatly important.

    Therefore, the employees of OJSC “Guarantee Fund” attach great importance to the timely and systematic conduct of training seminars for employees of branches of partner banks, located in all regions of the Kyrgyz Republic.

    In sum, there were 68 bank employees representing almost all partner banks of the fund, who attended the seminars held in Balykchi, Cholpon-Ata, and Karakol. The total number of banks in three cities, which participated in the workshops was 15.

     The regional representative of OJSC “Guarantee Fund”, Kubanychbek Nasirov, attended the seminar held in Karakol

    CHAIRMAN OF THE MANAGEMENT BOARD OF OJSC “GUARANTEE FUND”, MALIK ABAKIROV, MET LOCAL ENTREPRENEURS IN NARYN

    CHAIRMAN OF THE MANAGEMENT BOARD OF OJSC “GUARANTEE FUND”, MALIK ABAKIROV, MET LOCAL ENTREPRENEURS IN NARYN

    Projects for Regional Development.

    On August 21, under the leadership of the Vice Prime Minister of the Kyrgyz Republic, Zamirbek Askarov, a meeting of the competition committee for the selection of investment business projects, infrastructure projects, and development programs was held.

    The meeting was also attended by the Chairman of the Management Board of “Guarantee Fund”, Malik Abakirov.

    “The specific conditions of each region should be taken into account, when preparing projects in order to finance the development of regions”, Vice Prime Minister, Zamirbek Askarov, said at a meeting. “The selection criteria or the projects should be: access to finance of hard-to-reach areas of the regions, use of local raw materials and labor resources, as well as export orientation, and innovative character.”

    Vice Prime Minister charged OJSC “Guarantee Fund” “Russian-Kyrgyz Development Fund”, “RSK Bank”, and “Ayil Bank” to send their specialists to the regions to provide consulting assistance in the preparation of projects.

    MEETINGS WITH ENTREPRENEURS OF NARYN
    During the period from August 22 to 23, the Chairman of the Management Board of OJSC “Guarantee Fund”, Malik Abakirov, and the head of Regional Development Department, Kamchybek Alaliev, were in Naryn, where a number of meetings related to the projects of local entrepreneurs were held, and where they examined the needs of entrepreneurs for consulting and financial assistance.

    First, meetings and discussions were held with the governor of Naryn region, Amanbai Kaiypov, and the First Deputy Governor, Kassn Asizov, where issues of support for entrepreneurs were discussed in the framework of 2 billion KGS allocated by the Government of the Kyrgyz Republic. Then, Malik Abakirov and Kamchybek Aaliev participated in the meeting organized by the Mayor’s office of the regional city. Mayor, Semetey Cherikbaev and Vice Mayor, David Kurmanov, as well as more than 20 local entrepreneurs attended the meeting.

    There was an exchange of opinions, during which Mr. Abakirov informed the audience that Guarantee Fund will assist entrepreneurs of Naryn Region in preparing projects and developing business plans for participation in the competitive selection.

    After that, there was a visit to a number of enterprises in need of support. Among them are: a wool processing enterprise, located on “Kara Buk” site in the village of Emgekchil, Naryn; production of reinforced concrete products that cannot resolve the issue of a land plot in Naryn, and the launch of production; a tourist facility – construction of a recreational complex in “Salkyn Tor” area, which is being run by a private entrepreneur, and construction of a tourist complex with a hotel in the village of Kochkor.

    There was a detailed discussion about possible ways to support and further develop above mentioned enterpises between Malik Abakirov, Kamchybek Aaliev, Kamchybek Chukuev,the regional representative of OJSC “Guarantee Fund” and entrepreneurs.

    Since August 29, Malik Abakirov has been in Batken region, where he as well has held meetings with local entrepreneurs.

     

     

    GUARANTEES – REALLY EFFECTIVE TOOL IN ASSISTING ENTREPRENEURS

    OJSC “Guarantee Fund” keeps providing dynamic assistance to our entrepreneurs by providing them with financial guarantees for receiving loans from commercial partner banks. Guarantees have shown themselves to be a genuine financial instrument to support entrepreneurs.

    From the inception of its activity in November 2016 till August 30, 2019, OJSC “Guarantee Fund” approved 949 guarantees for a total sum of 1.270 billion KGS. Partner banks of the fund approved loans in the sum of 4.320 billion KGS.

    Since the inception of the 2019, 293 guarantees have been approved in total of 515.2 million KGS. Under the guarantees of the fund, partner banks approved the issuance of loans in sum of 1.567 billion KGS to entrepreneurs.

    Entrepreneurs are able to implement their business plans, strengthen financial, material, and technical potential due to credit and guarantee support.In its turn, entrepreneurs’ successful work has a positive effect on employment, infrastructure development, and the economy of the regions as a whole.