In Kyrgyzstan Guarantee Fund issued guarantees in the amount of KGS 11 million

In Kyrgyzstan Guarantee Fund, created in November, 2016, to date issued 16 guarantees in the amount of KGS 11 million, – reported Deputy Minister of Economic Affairs of the Kyrgyz Republic Daniyar Imanaliev today on February 21 at a press conference “Business financial capabilities increase through OJSC “Guarantee Fund” and public-private partnership”. Press Service of the Government reported.

““Within anticrisis measures in 2016 the Government created Guarantee Fund to support small and medium-sized enterprises. It was created in a short period of time and nowadays fully operates.  Capital of GF constitutes KGS 282 million. To date 16 guarantees were issued in the amount of KGS 11 million”, – informed Deputy Minister of Economic Affairs of the Kyrgyz Republic.

Chairman of the Board of OJSC “Guarantee Fund” Malik-Aidar Abakirov informed that the Fund had started its activity on November 1, 2016 and was issuing guarantees at 1,5% of the amount, and since March 1, 2017 will start issuing at 2,5%.

The priority sectors for guarantee issue are production and agro-processing (crop production, fruit-berry and fruit-vegetable clusters, meat-dairy industry, fisheries), industry (clothing and textile industry, construction materials production), tourism development, medical services, export, transportation and logistics services., export-oriented and import-substituting enterprises, also attention will be paid to women’s entrepreneurship.

Deputy Minister of Economic Affairs of the Kyrgyz Republic Daniyar Imanaliev noted, that within conditions of intensified global competition, entrepreneurship would take on a special significance. In this regard, the Government of the Kyrgyz Republic is undertaking different reforms, implementing new domestic business support and promotion mechanisms, one of them is the initiative of establishing OJSC “Guarantee Fund”.

Source:  http://kabarlar.org/news/90280-v-kyrgyzstane-garantiynyy-fond-vydal-garantiy-na-summu-11-mln-somov.html