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  • OJSC “GF” summed up the interim results

    Guarantee support for entrepreneurship

    Since the beginning of this year, OJSC “GF” has been successfully carrying out activities on the guarantee support for entrepreneurs. The indicators of the 1st and 2nd quarters demonstrated quantitative and qualitative growth. Much attention is paid to regional entrepreneurs; whose activities have a significant impact on the socio-economic situation of local communities.

    In total, since the beginning of its activity and as of September 30, 2020, the Guarantee Fund has provided 2,873 guarantees in the amount of 2.3 billion KGS. At the same time, the amount of loans received by entrepreneurs under guarantees amounted to 8.08 billion KGS.

    Sectors

    The largest number of guarantees has traditionally been provided in agriculture – 2,063 guarantees, followed by industry, processing, transport services, trade and other sectors.

    Partner banks

    Among partner banks, the highest indicators were achieved by Aiyl Bank – 644 loans guaranteed by the GF, RSK Bank – 259, CB Kyrgyzstan – 129, Bank of Asia – 122, Halyk Bank – 105 and so further. In total, 15 banks participated in the provision of loans under guarantees, including RKDF.

    Guarantees within the framework of the project to support milk producers

    We add that from the beginning of the activity and at the end of the 3rd quarter, 1402 guarantees were issued through the Ministry of Finance. Within the framework of the World Bank’s project on comprehensive support for the dairy industry, the GF has been providing interest-free loans to rural milk producers since 2019.

    Support for regional entrepreneurs

    Guarantees were issued in all regions of Kyrgyzstan. In particular, in the Batken region, 93 entrepreneurs received the guarantee support, in the Jalal-Abad region – 137, in the Naryn region – 304, in the Osh region – 179, in the Talas region – 80, in the Chui region – 217, in the Issyk-Kul region – 1526 (including guarantees within the World Bank project), in Osh – 59 and Bishkek – 278.

    In the Republic of Tajikistan 23 guarantees have been issued by their Guarantee Fund based on the Kyrgyz model of Guarantee Funds!

    The Guarantee Fund in the Republic of Tajikistan, created on the basis of the Kyrgyz model, provided entrepreneurs with 23 guarantees for loans.

    The creation of the Guarantee Fund in the Republic of Tajikistan was preceded by the study of Tajik colleagues of the Kyrgyz two-tier model of Guarantee Funds, the thematic seminars and distance learning with the involvement of the Chairman of the Board of the OJSC “Guarantee Fund” M.-A. Abakirov and applying his works of authorship.

    Establishment of Guarantee Funds outside the Kyrgyz Republic precisely on the basis of the Kyrgyz model is an obvious recognition and vivid confirmation of the highly effective and successful activities of the OJSC “Guarantee Fund” in supporting SMEs already in the international arena.

    OJSC “Guarantee Fund” concluded cooperation agreements with OJSC “FinanceCreditBank” and OJSC “Capital Bank of Central Asia”

    On September 25, 2020, the OJSC “Guarantee Fund” concluded cooperation agreements with OJSC “FinanceCreditBank” and OJSC “Capital Bank of Central Asia”.

    The agreements were signed by the Chairman of the Management Board of the OJSC “Guarantee Fund” Malik Abakirov, the Chairman of the Management Board of the OJSC “FinanceCreditBank” Kadyrbek Bukuev and the Chairman of the OJSC “Capital Bank of Central Asia” Nurdin Musuraliev.

    When signing the agreement, the chairmen of the financial organizations, noting the importance of interaction in providing access to financial resources for SMEs, expressed confidence in fruitful cooperation.

    To date, the number of partner banks of the OJSC “Guarantee Fund” on support for entrepreneurs has reached fifteen after the conclusion of the agreement with the above financial institutions.

    In addition to concluding the main cooperation agreement, the OJSC “FinanceCreditBank” and the OJSC “Capital Bank of Central Asia” expressed interest in the program of the OJSC “Guarantee Fund” “Increasing the access of SMEs to financing in order to mitigate the consequences of COVID-19 coronavirus infection”, wishing to participate in its implementation, signed an agreement within the framework of this program.

     

    OJSC “Guarantee Fund” issued the first guarantees within the framework of cooperation with OJSC “Keremet Bank”

    OJSC “Guarantee Fund” issued the first guarantees within the framework of cooperation with OJSC “Keremet Bank”

    Less than a month has passed since the signing of a cooperation agreement between OJSC “Guarantee Fund” and OJSC “Keremet Bank”, and we can already witness the results. On September 21, 2020, OJSC “Guarantee Fund” issued the first two guarantees to ensure that individual entrepreneurs receive large loan amounts to replenish working capital.

    The entrepreneur, who has received the support from OJSC “Guarantee Fund”, has been engaged in wholesale and retail sales of household goods and tableware for almost ten years.

    To date, within the framework of cooperation between OJSC “Guarantee Fund” and OJSC “Keremet Bank”, two more projects have been approved, a number of guarantee applications are under consideration.

    Let us remind you that OJSC “Keremet Bank” became the thirteenth partner bank of OJSC “Guarantee Fund” in providing support to SMEs.

    The results of the deposit auction

    On September 17, 2020, within the framework of the implementation of the program “Increasing access for SMEs to financing in order to mitigate the consequences of the coronavirus infection COVID-19”, the Guarantee Fund held a deposit auction.

    The auction was attended by six partner banks that entered into an agreement with the OJSC “Guarantee Fund” within the framework of the above program.

    According to the results of the deposit auction, the placement volume amounted to 300 million KGS, the average rate to the ultimate beneficiaries is 10% per annum.