On September 6, 2019, the opening ceremony of the first branch of OJSC “Guarantee Fund” was held in the building of the Plenipotentiary Office of the Government of the Kyrgyz Republic in Naryn region.
First Deputy Plenipotentiary Representative Kasen Asizov, Chairman of the Management Board of OJSC “Guarantee Fund” Malik Abakirov, heads of Naryn district and Naryn City Hall, representatives of partner banks, and businesses communities attended the opening ceremony.
After the solemn cutting of the red ribbon, the guests went up to the premises of OJSC “Guarantee Fund” branch, and a coffee break, and communication with journalists happened there. Kasen Asizov, Malik Abakirov, heads of Ayil Bank and RSK Bank, entrepreneurs all delivered welcoming speeches.
Malik Abakirov, during the event, was awarded the breastplate “Honorary Citizen of Naryn region. Kasen Asizov handed the sign and certificate to the head of the fund.
An honorary diploma of the Plenipotentiary Representation was also handed to the Regional representative, and now the director of the branch in Naryn, Kamchybek Chukuev.
This is a sign of recognition for the contribution of the head of Guarantee Fund and the fund employee to support and development of small and medium enterprises in Naryn region.
The opening of a regional branch will certainly have a strong impact on the development of OJSC “Guarantee Fund’ in supporting regional entrepreneurs, assisting in the development of business projects, and conducting larger-scale advisory assistance.
“Guarantee Fund” keeps providing guarantee support to entrepreneurs. The results of the efforts demonstrate good pace and growth indicators.
In general, as of September 6, the fund approved 954 guarantees in the amount of 1.271 billion KGS. The volume of loans approved by partner banks summed to 4.323 billion KGS.
Since the start of this year, 298 guarantees have been approved in the amount of 516.4 million KGS. The total of bank loans amounted to 1.570 billion KGS.
Activity indicators as of August 31, 2019
As of August 31, 2019, 949 guarantees were issued in the amount of 1.270 billion KGS. Partner banks, under the guarantees of the fund, issued 4.320 billion KGS in loans to entrepreneurs. Majority of the guarantees were received by clients of “Ayil Bank” – 423, “RSK Bank” – 124, “Bank of Asia” – 98, CB “Kyrgyzstan” – 88, “Halyk Bank” – 78, etc.
Entrepreneurs engaged in agriculture received 379 guarantees, manufacturing – 96, agricultural processing – 67, tourism – 55, transport – 82, construction – 10, etc.
Issuance of guarantees in the regional context: Batken region – 64 guarantees, Osh city – 37, Jalal-Abad – 81, Naryn region – 172, Osh region – 92, Talas region – 34, Chui region -155, Issyk-Kul region -88 guarantees.
Since the inception of the activities of OJSC “Guarantee Fund”, entrepreneurs of the city-growth points have been issued 408 guarantees, including: Osh -37, Jalal-Abad-21, Kara-Suu – 16, Karakol – 26, Balykchi and Karabalta – 9 each, Kochkor and Batken – 7 each, Naryn – 13, Talas – 11, Tokmok – 6, etc. The total of guarantees amounted to 769 million KGS, the amount of received loans -2.819 billion KGS.
There were 1943 new work places created, 8906 existing ones maintained.
New Guarantee Product.
On September 6, 2019, the Management Board of OJSC “Guarantee Fund”, by its Resolution No. 33/4, approved the passport of the new guarantee product “Guarant Express’. Thus, today at the services of entrepreneurs of various levels and scales there are 5 guarantee products –Horizon, Leasing, Corporate, Guarantee Plus and Guarant Express.
“Guarant Express” is intended for guarantee support of individual and sole proprietorship, limited liability companies and joint-stock companies. The guarantee amount is not more than 250 thousand KGS with a loan amount of not more than 500 thousand KGS, that is, should not exceed 50% of the loan.
Lending sectors- agriculture, processing, industry and other industries. Moreover, the guarantee interest is 2% for agriculture, product processing, manufacturing and tourism, and 2.5% for other industries.