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  • As at 17 July 2018, OJSC “GF” approved 500 guarantees amounting to KGS 497 million

    OJSC “Guarantee Fund” (OJSC “GF”) provides support for small and medium sized enterprises by issuing guarantees in case of insufficient collateral. As at 17 July 2018, OJSC “GF” approved 500 guarantees amounting to KGS 497 million for SMEs. Volume of loans approved by partner banks constituted KGS 1.81 billion.

    It should be noted, that for 2017, OJSC “GF” approved 234 guarantees amounting to KGS 246 million. For 7.5 months of 2018, the Fund approved 263 guarantees in the amount of KGS 249 million, that exceeds annual indicator both by number and amount. It shows the efficiency of the activities of OJSC “GF”. Since the start of 2018, partner banks approved loans under guarantees of OJSC “GF” in the amount of KGS 838 million.

    As at 17 July 2018, OJSC “GF” disbursed 60% of the RKDF loan obtained on May, 2018 (35 guarantees amounting to KGS 60 million were approved)

    OJSC “GF” ACCOUNT RECEIVED FIRST KGS 100 MILLION OUT OF KGS 300 MILLION GRANTED BY THE GOVERNMENT OF THE KR FOR THE FUND’S AUTHORIZED CAPITAL INCREASE

    OJSC “GF” account received first KGS 100 million out of KGS 300 million granted by the Government of the KR for the Fund’s authorized capital increase.

    The authorized capital increase, according to the Order of the Government of the KR of June 25, 2018, No. 217-b, will contribute to the efficiency enhancement of the activities of Open Joint Stock Company “Guarantee Fund”, which in the Year of Regional Development intends to expand the coverage of rural entrepreneurs with guarantees, while providing substantial support to small and medium-sized enterprises, including women entrepreneurs, through business process trainings, consulting and business plan development.

    OJSC “GF” will also participate in industrial development of the KR.

    OJSC “GF” and LLC “DOS TJM” SIGNED AN AGREEMENT ON THE PARTICIPATION OF OJSC “GF” IN THE MANAGEMENT OF THE ENTERPRISE

    OJSC “GF” and LLC “DOS TJM” SIGNED AN AGREEMENT ON THE PARTICIPATION OF OJSC “GF” IN THE MANAGEMENT OF THE ENTERPRISE

    On July 17, 2018, OJSC “GF” and LLC “Dos TJM” signed an agreement on the participation of OJSC “GF” in the management of the limited liability company “Dos TJM”. The Chairman of the Board of OJSC “GF” Malik Abakirov and the Director General of “Dos TJM” LLC Tologon Ibraev signed the agreement.

    In accordance with this agreement, OJSC “Guarantee Fund” will participate in the financial management of the enterprise, its development strategy, including business strategies, attracting investments and working with investors, donors, and banking structures.

     Cooperation between OJSC “GF” and LLC “Dos TJM” will contribute to the production improvement and enhancement of technological processes; timely implementation of the agricultural machinery development program of in the Kyrgyz Republic, in which the enterprise is involved.

     

     

     

     

     

     

     

     

     

     

     

    OJSC “GF” has disbursed 42% of the RKDF loan amount during 3 months

    Guarantees for SMEs.

     In March-April 2018, OJSC “GF” obtained a loan in the amount of KGS 100 million from the Russian-Kyrgyz Development Fund, intended for the guarantee support for entrepreneurs in all regions of Kyrgyzstan. During the past three months, 42 percent of the loan amount has already been disbursed.

     The loan is issued in the form of guarantees to support small and medium-sized enterprises in regions and is successfully disbursed. Thus, for April-June 2018, 42% of the loan has already been disbursed. Guarantees are issued to entrepreneurs, including export-oriented enterprises, in all regions of the republic.

    June 23 is the 2nd anniversary of OJSC “GF”

    OJSC “Guarantee Fund” (OJSC “GF”) celebrated the second anniversary of its activity. OJSC “GF” was created on June 23, 2016 by the Decree of the Government of the Kyrgyz Republic No. 288-p. The main purpose of OJSC “GF” is to promote small and medium-sized enterprises (SMEs) of the republic.

    Since then, OJSC “GF” has demonstrated excellent development dynamics in the process of SMEs guarantee support and is now on the trajectory of constant sustainable growth. The first guarantees were issued in November 2016. In total, from November 2016 and as of June 23, 2018, OJSC Guarantee Fund issued 472 guarantees in the amount of KGS 454 million. The amount of loans approved by partner banks under the guarantees of OJSC “GF” amounted to KGS 1.678 billion. Among the partners are 11 commercial banks with numerous branches in all regions of the republic, and the Russian-Kyrgyz Development Fund (RKDF).

    In the Year of Regional Development in Kyrgyzstan, announced by the President of the Kyrgyz Republic S. Jeenbekov, OJSC “GF” performs a variety of productive activities that contribute to the implementation of SMEs business plans, employment of the population, reduce of migration, creation of infrastructure, and overall socio-economic development of regions.

    In accordance with the plan of OJSC “GF” for 2018, the issuance of guarantees will increase by 160 percent compared with 2017. If in 2017 issued guarantees amounted to KGS 246 million, then in 2018 it is planned to issue guarantees for the amount of more than KGS 400 million.

              The biennium of activity is an occasion to mention our partners – banks and RKDF! After all, the success of any business is always in joint creative work. As for our customers – entrepreneurs, the doors of OJSC “GF” are always open! To their services – guarantee support, consultations, financial literacy training, assistance in developing business plans!

    OJSC “GF” has issued more guarantees since the beginning of this year than for the whole of 2017.

            From the beginning of 2018 and as of June 23, OJSC “Guarantee Fund” (OJSC “GF”) issued more guarantees to entrepreneurs than for the whole of 2017 (235 against 234)! It is the result of the planned constructive work of OJSC “GF” to promote a new instrument – guarantee – in the financial market of Kyrgyzstan and evidence of correctly chosen development strategy!

    Meetings with employees of banks in Batken and Osh regions were useful

    Meetings with employees of banks in Batken and Osh regions were useful

    Partner banks.

    Specialists of OJSC “Guarantee Fund” (OJSC “GF”) – head of the Regional Development Department K. Aaliev and head of the Consulting Services Department A. Davlesov at the beginning of June, were on a business trip in Batken and Osh regions, where they conducted seminars on guarantees and activities of OJSC “GF” in general for employees of banks and entrepreneurs.

     Batken region

    From June 4 to June 6, OJSC “GF” specialists were in Batken region where together with the regional representative of OJSC “GF” Akylbek Orozov they conducted seminars for employees of branches of partner banks and local entrepreneurs. In particular, 21 people attended in Isfana town and 22 people in Sulukta town.

    On June 5, three similar seminars were conducted. In Batken there were 25 attendees, 4 of them representing the banking sector – Aiyl Bank, Bakai Bank, RSK Bank and CB Kyrgyzstan, the rest – entrepreneurs and representatives of local authority (ayil ökmötü).

    In Kadamzhai 14 representatives of banks (Aiyl Bank, RSK Bank, Kompanion Bank) and entrepreneurs took part in the seminar.

    Representatives of five banks attended the seminar in Kyzyl-Kiya: Demir Bank, CB Kyrgyzstan, RSK Bank, BTA Bank and Bakai Bank.

    During the seminars, the attendees received comprehensive information on guarantees and activities of OJSC “Guarantee Fund”, projects and programs aimed at supporting small and medium-sized enterprises. An exchange of views took place, explanations were given on the issues of consultations and business planning.

    Osh region

    A trip to the districts of Osh region took place according to the established schedule. Planned meetings with the heads and loan specialists of branches of partner banks were held.

    On June 6, meetings were held in Nookat district with the employees of Aiyl Bank, CB Kyrgyzstan, KICB and FINCA Bank.

    Meetings were held in Kara Sui district with the employees of the banks RSK Bank and CB Kyrgyzstan.

    In Osh city, a seminar was conducted for the employees of KICB bank and was attended, in particular, by 11 loan officers.

    On June 7, the meetings continued in Uzgen town with the employees of the banks Aiyl Bank, Halyk Bank, CB Kyrgyzstan, and from CB Kyrgyzstan there were 10 attendees – specialists from Uzgen and Kurshab branches.

    Meetings were held in Kara-Kuldzha district with employees of Aiyl Bank, RSK Bank, Bank Kompanion, CB Kyrgyzstan.

    On June 8, the employees of OJSC “GF” arrived in the village Gulcho in Alay district, where they held meetings with the managements and employees of the local branches of Aiyl Bank and RSK Bank.

    The final seminars were conducted in Aravan district. Heads of the branches and loan specialists of Aiyl Bank, RSK Bank and CB Kyrgyzstan attended the seminars.

    During the meetings, the booklets of OJSC “GF” were distributed, presentations on guarantees were made and then there were discussions with entrepreneurs and bank employees on various issues, in particular, the possibility of detailed consultations on guarantees, a package of documents, period for considering and decision-making by OJSC “GF”.

    Entrepreneurs were especially interested in consultations, assistance in business planning, as well as sectors and industries supported by OJSC “GF” and other issues.

             Summing up the results of the trip and conducted seminars, the employees of OJSC “GF” noted the usefulness, importance and necessity of regular meetings with entrepreneurs and bankers, especially in regions of Kyrgyzstan.