Guarantees for businesses.
A round table was held on the development and support of SME’s in administration of Lenin district of Bishkek. Approximately, 60 people attended, including: First Deputy Mayor, Almaz Baketaev, akim (Head of District Administration), Toktosun Sultanov, state and municipal services, representatives of financial and credit institutions, as well as entrepreneurs.
The round table was also attended by employees of OJSC “Guarantee Fund” – Kamchybek Aaliev, Head of Regional Development Department and Abai Bakirov, Head of the Medium-Aaliev, head of the medium-sized business sector of Guarantee and Product Development. The latter informed the audience about the activities of OJSC “Guarantee Fund” in supporting entrepreneurs, conditions of providing guarantees, introducing new products, targeted at all SME’s.
The contribution of OJSC “Guarantee Fund” to the socio-economic development of the regions of Kyrgyzstan is best illustrated by information on the number of jobs created
Due to guarantees, entrepreneurs implement their business projects in the sectors of agriculture, processing, and develop production as well create jobs. As of September 30, OJSC “Guarantee Fund” issued 980 guarantees in amount of 1.338 billion KGS, the number of approved bank loans amounted to 4.611 billion KGS.
In total, 2 217 new jobs were created and 9 066 existing ones were maintained. How are jobs were distributed by region?
From the inception of activities of OJSC “Guarantee Fund” 225 jobs were created in Talas region, 224 jobs were maintained, 223 and 586, respectively in Osh region, 162 and 532 respectively in Jalal-Abad, 50 and 212 respectively in Batken, 48 and 668 respectively in Issyk-Kul, 144 and 876 respectively in Osh city, 281 and 1 146 respectively in Chui region, etc.
From the inception of activity and as of September 30, 2019, OJSC “Guarantee Fund” issued 980 guarantees to entrepreneurs in amount of 1.338 billion KGS, the volume of bank loans is amounted to 4.611 billion KGS.
In Regional Context:
As of September 30, 2019, guarantees have been issued as follows:
- Osh city – 38
- Osh region – 93
- Batken region– 66
- Jalal-Abad region -82
- Naryn region – 184
- Talas region – 36
- Issyk-Kul region – 92
- Chui region – 160, etc.
In Industry Context:
- Agriculture – 396 guarantees,
- Manufacturing – 99 guarantees,
- Agricultural Product Processing – 69, etc.
More, guarantees for agriculture amounted to 211 million KGS, Manufacturing – 258 million KGS, Agricultural Product Processing – 232 million KGS.
The amount of Bank loans under the guarantee of OJSC “Guarantee Fund” amounted to, as follows:
- Agriculture – 580 million KGS,
- Manufacturing – 889 million KGS,
- Agricultural Product Processing – 727 million KGS.
On September 28, 2019 in farm “Ysmayil” of Alamudun district, on the one hand a business, on the other hand a festive event, a meeting of farm workers and residents of Kara-Jygach village took place. The meeting was accompanied by a concert program. Previously, this type of event was called “Harvest Festival”. The harvest is over, the coffers are filled with generous gifts, the products are sent to consumers in cities and villages, and then Fall came in time – it is time to sum up the work, compute profits, and make plans for the next season.
The scale of the meeting differed from the previous ones in the number of participants and important guests. There were approximately 600 people, including invited representatives of the President Office of the Kyrgyz Republic, the State Administration of Chui region, district authorities, reported Zukhra Ismailova, the head of the farm. On behalf of OJSC “Guarantee Fund”, Azamat Kozhobaev, Deputy Chairman of the Management Board, also attended the meeting.
Last season has been successful for farming, a good harvest was given to the plantation of strawberry, raspberry, tayberry, Zukhra Sagynbaevna continues the narrative. The products were sent to the regions of Kazakhstan and Russia, where is a steady demand for berries. According to Zukhra Sagynbaeva, berries are in great demand. Kyrgyz berries have already become a brand. There is inscription on bodies of cars, in particular cities that says, “The Kyrgyz Raspberry” (or Strawberry.
Partners also worked well, it is necessary to give them credit – the residents of nearby villages who sell grown strawberries into farm “Ysmayil”. In 2018, with the support of OJSC “Guarantee Fund”, the farm purchased equipment, and now produces wooden container boxes for berries.
Now, the farm furthers. A lease for another 100 hectares of land for berry crops, some of which will be given to the villagers, was signed.
The farm’s plans, which can be called grandiose, include the construction of a refrigeration unit for cooling berries, and export supplies throughout the whole year.
The management of the farm “Ysmayil” reported such plans. During the festive event, the most outstanding employees were awarded certificates in various categories. On behalf of the company, everyone was presented with national caps and t-shirts with the company’s inscription.
It is worth to emphasize that the peculiarity of this company: it unites like-minded people, who become partners around itself. Not only does it apply to berries, but also to honey, for instance. According to Zukhra Ismailova, the farm plans to found an Association of beekeepers, which will unite local suppliers to jointly solve common problems, and organize the supply of honey for export.
We support the export plans of the farm ‘Ysmayil”, including with guarantees.
OJSC “Guarantee Fund”
Photo by USAID
Seminars in Regions.
Today, there is a regular cycle of training seminars for entrepreneurs and employees of branches of partner banks on the conditions and mechanisms for obtaining guarantees is being held in all regions of Kyrgyzstan.
Particularly, director of Naryn regional branch of OJSC “Guarantee Fund”, Kamchybek Chukuev, held a seminar for local entrepreneurs of Ak-Tala district on September 26. Regional representative of Jalal-Abad region, Kanat Sulaymankulov, held a seminar for employees of branches of partner banks in Bazar-Korgon district.
Conducting of seminars is a part of an important work to promote guarantees in regions and to expand the coverage of entrepreneurs. During the seminars, local entrepreneurs get informed about the conditions for obtaining guarantees, while bank employees get familiarized with mechanisms of interaction in issuance of loans using guarantees.
On photo: K. Chukuev in Ak-Tala district,
K. Sualymankulov in Bazar-Korgon district.