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  • OJSC “Guarantee Fund” and OJSC “Aiyl Bank” concluded Memorandum on Cooperation

    On January 31, 2017 OJSC “Guarantee Fund” and OJSC “Aiyl Bank” concluded Memorandum on Cooperation according to which the following projects will be considered as a matter of priority:

    – directed to creation and modernization of production with reliable market, sustainable raw material supply and components;

    – using financial leasing of fixed assets;

    – directed to creation of new import-substituting productions as well as modernization and reconstruction of existing import-substituting productions;

    – forming a chain of technologically related productions with high added value and promising from position of entering world markets (export-oriented productions);

    – projects of women entrepreneurs.

    Press release

    On January 30-31, 2017 OJSC “Guarantee Fund” staff passed a two-day training on “Guarantee System International Development Experience and its application in the Kyrgyz Republic”. It was held by international consultant on finance and banking F. Labonte.

    International consultant F. Labonte was engaged by ADB to provide consultative support at development stage of OJSC “Guarantee Fund”.












    Innovations in process

    OJSC “Guarantee Fund” (hereinafter the Fund) held working meetings with employees of the following commercial banks:

    Date Name of Bank Region
    January 13, 2017 OJSC “CB Kyrgyzstan” Bishkek
    December 23, 2016 OJSC “Aiyl Bank” Bishkek
    January 17, 2017 OJSC “CB Kyrgyzstan”

    OJSC “Aiyl Bank”

    CJSC “Finca Bank”

    CJSC “Bank of Asia”

    Jalal-Abad city
    January 18, 2017 OJSC “CB Kyrgyzstan”

    OJSC “Aiyl Bank”

    CJSC “Finca Bank”

    CJSC “Bank of Asia”

    Osh city

    At the meetings employees were informed about activity of the Fund, training seminar was held and the following issues were discussed:

    1. Guarantee as SME promotion innovative instrument in the Kyrgyz Republic;
    2. Guarantee development prospects in the Kyrgyz Republic and their effect on country economy;
    3. Target group of the Fund;
    4. Mechanism and stages of providing guarantee;
    5. Inter-institutional cooperation.

    During the meeting the Fund focused attention of Bank employees on the following priority directions of its activity:

    —support for export-oriented products;

    —support for import-oriented products;

    —procuring and processing of agricultural products;

    — women’s entrepreneurship.

    This event will let experts more objectively introduce guarantee products to entrepreneurs and enhance awareness among business communities. The Fund with working trips will visit all regions of the country and further will hold training seminars for Bank employees. It should be noted that one of the priority objectives of the Fund is entrepreneurs’ financial literacy increase and subsequently the Fund will hold “Seminars on financial literacy”, where basics of finance planning will be taught.

    Cooperation agreement between OJSC “Guarantee Fund” and Kompanion Bank

    On January 16, 2017 OJSC “Guarantee Fund” and Kompanion Bank signed cooperation agreement. For OJSC “Guarantee Fund” it is the fifth agreement with banks. OJSC “Guarantee Fund” in cooperation with banks will assist SMEs in obtaining loans in case of insufficient collateral. The priority directions will be:

    1. production;
    2. agro-processing;
    3. tourism;
    4. women’s entrepreneurship;
    5. export – and import-oriented enterprises.

    Cooperation between OJSC “Guarantee Fund” and Kompanion Bank will open up new loan market development prospects in the country, will strengthen SMEs positions and will contribute to the growth of economic indicators of the Kyrgyz Republic.