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  • TWO PROJECTS PREPARED WITH THE PARTICIPATION OF OJSC “GUARANTEE FUND” RECEIVED APPROVAL AT THE MEETING OF THE COMPETITION COMMISSION

    TWO PROJECTS PREPARED WITH THE PARTICIPATION OF OJSC “GUARANTEE FUND” RECEIVED APPROVAL AT THE MEETING OF THE COMPETITION COMMISSION

    Regional Development Projects.

    Consideration and selection of investment business projects, infrastructure projects and development programs is ongoing. At the regular meeting of the Competition Commission, which was held on October 31, 2019, under the leadership of the Deputy Prime Minister of the Kyrgyz Republic Zamirbek Askarov, the Chairman of the Management Board of OJSC “Guarantee Fund”, Malik Abakirov and the head of Advisory Services Department of the fund Marat Urustemov also participated in the meeting.

    18 business projects in total were submitted for consideration by the Competition Commission. The projects were from Issyk-Kul and Naryn regions and Osh city. Regional leaders presented the projects. The discussion was also attended by the heads of financial institutions – “Ayil Bank”, “RSK Bank”, RKDF, and OJSC “Guarantee Fund”

    After the discussion, 7 projects were approved according to which in the near future, after studying the documents, the Ministry of Finance will begin financing approved projects. Other 7 projects were sent for revision due to non-compliance with the selection criteria.

    OJSC “Guarantee Fund”, on behalf of the Government of the Kyrgyz Republic, participates in the preparation of business projects for entrepreneurs of Naryn and Batken regions. In September, the management of the fund visited these regions to meet with leaders of local authorities and entrepreneurs, got acquainted with the activities of enterprises, and examined upcoming business projects.

    As a result of the trips, priority projects were identified and joint work on business projects started. On November 1, five projects from Naryn region were submitted to the Competition Commission. Of these, three were prepared with the participation of OJSC “Guarantee Fund”. As a result, two of these three projects received approval. One project concerns the completion of the construction of an Ethno-Complex in Salkyn-Tor area, which will become a place of attraction for tourists and visitors to the region. The second is related to the production of felt products and needs funding for the acquisition of production equipment and the opening of a slaughterhouse. Another project was returned for revision.

    The next regular meeting of the Competition Commission will be held next week. The commission members intend to consider about 100 projects from all regions of the country, including those which were sent for revision on October 31.

    It should be noted that in the framework of the implementation of the Decree of the President of the Kyrgyz Republic on declaring 2019 as the Year of Regional Development and Digitalization of the country, the Government of the Kyrgyz Republic allocated 2 billion KGS for the development of regions through business assistance.