World Bank Project.
OJSC “Guarantee Fund”, as a participant in the implementation of the World Bank Project “Integrated Dairy Productivity Improvement”, conducts a survey of farm households in Issyk-Kul region, and arranges loans.
This time, the specialist of Guarantee and Product Development Department of OJSC “Guarantee Fund”, Sanjar Akmatov, visited Zhyluu-Bulak village, Tyup district, An-Oston and Ak-Dobo village of Jeti-Oguz district, where 81 households, in total, were examined.
As we previously reported, OJSC “Guarantee Fund” participates in process of selection of applicants, conducts farm surveys and ensures the execution of loan agreements with farmers – members of borrower groups.
When examining farms, attention is drawn to absence of debt on loans, the availability of land with an area of no more than five hectares, the presence of cattle, no more than 3. Borrowers must also make their own contribution in 10% of the loan amount. It is important to keep up with the following proportions:
- At least 45% of direct beneficiaries should be women;
- At least 10% of direct beneficiaries should be young adults (18-29 y.o.)
Loans are interest-free, issued in amount of up to 1200 USD per person (84 thousand KGS), and for a period of 10 months to 3 years.
Seminars in Regions.
From October 23 to 30, 2019, an employee of OJSC “Guarantee Fund” Saparbay uuly Altynbek, with the company of regional representative Adilet Alimzhanov, conducted seminars for employees of branches of partner banks in four districts of Osh region – Kara-Suu, Uzgen, Kara-Kuldzha, and Alai.
During the meetings, the mechanisms of providing guarantees were discussed, as well as the interaction between the employees of OJSC “Guarantee Fund” and loan specialists of partner banks. The following issues were considered:
- Increase in the availability period for credit lines with the participation of the Fund;
- Decrease in the commission of the Fund for priority sectors;
- Lack of access to external email from partner banks;
- Reducing the number of documents for consideration of a guarantee;
- Changes to the guarantee application form.
Employees of OJSC “Guarantee Fund” handed over information brochures, booklets, posters to bank branches, provided sample documents for obtaining guarantees (application forms, guarantee contract templates, guarantee letter templates, presentations, etc.)
74 employees, in total, from 20 bank branches participated in the seminars on the topic “Mechanisms of providing guarantees”.
At the end of the meetings, the employees of OJSC “Guarantee Fund” reminded the participants of the seminars about the incentive campaign conducted by OJSC “Guarantee Fund” for loan officers of the regional branches of partner banks involved in issuance of loans under a guarantee of the Fund. The winners will be those who issue more loans under guarantees, in terms of quantity and amount. The Fund staff reminded and encouraged to actively participate in the process.