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  • GUARANTEE SUPPORT OF ANIMAL HUSBANDRY CONTRIBUTES TO THE DEVELOPMENT OF A NUMBER OF OTHER INDUSTRIES

    Business Support.

    It is known that livestock industry entails the development of crop production, without which animal husbandry itself is not able to exist. It also contributes to the production of feed needed for the diet of animals, and, in general, to the development of the processing industry which is using meat, milk, and skins, etc.

    For instance, as of October 9, 2019, 406 guarantees were issued to agriculture. Entrepreneurs specializing in livestock industry were issued 328 guarantees in the amount of 148 million KGS, while the volume of loans under guarantees amounted to 397 million KGS.

    As of October 9, 2019, OJSC “Guarantee Fund” approved 995 guarantees for a total amount of 1.344 billion KGS. Partner banks approved loans in amount of 4.666 billion KGS. Since the inception of the year, 339 guarantees worth 590 million KGS have been approved. Partner banks approved 1.914 million KGS in loans to entrepreneurs.

     

    PRACTICAL IMPLEMENTATION OF THE WORLD BANK PROJECT ON INTEGRATED INCREASE OF PRODUCTITY OF DAIRY SECTOR IN ISSYK-KUL REGION HAS BEEN LAUNCHED

    Dairy Sector.

    The practical implementation of the World Bank Project “Integrated Increase in Productivity of the Dairy Sector, in which OJSC “Guarantee Fund” participated, has started in Issyk-Kul region. Today, the first loans were issued to 17 farmers of the Svetlaya Polyana Village in Jeti-Oguz District.

    A representative of the World Bank mission, Artavazd Hakobyan, and a project representative Andriy Gankin, were the witnesses of contract signing. Both representatives noted that the objective of this project is to increase productivity of dairy cows and growth potential in dairy sector of Issyk-Kul region.

    In turn, farmers expressed gratitude to the World Bank mission for their training, financial support, and promised to increase the volume of milk handed over.

    Reference: One of the components of the World Bank project is Revolving Fund, amounting to $2 million USD. The fund provides financing for interest-free loans to farmers. More than 2 thousand people living in Issyk-Kul region will receive funding under the project.