Disbursement of RKDF loan.
The disbursement of loan funds received by OJSC “Guarantee Fund” form RKDF continues. The corresponding agreement was signed on June 19, 2019. The funds of this loan are purposeful and aimed at guarantee support of regional entrepreneurs. As of September 26, 7 guarantees in total were issued in the amount of 28.1 million KGS, 28% of the funds.
Previously, OJSC “Guarantee Fund” twice received loans form RKDF for alike purposes in 2018 and 2019, and both of them were successfully and timely disbursed.
From January to June 2019, according to the results of socio-economic development of the Kyrgyz Republic, 11.534 SME’s functioned, and 407 thousand people carried out individual entrepreneurial activities, the National Statistics Committee reported. The proportion of SM businesses in total GDP is 38%.
It is worth to note that the government program for 2019-2023 has been developed in Kyrgyzstan to enhance and support SME’s. OJSC “Guarantee Fund” is one of the participants in this program. As of September 26, the fund has provided 974 guarantees to entrepreneurs in total of 1.313 billion KGS, while the amount of loans received from partner banks by entrepreneurs accumulated to 4.425 billion KGS. The share of guarantees in the amount of loans is 30 percent.