Guarantee Fund passed 100 million mark!


On July 12 OJSC “Guarantee Fund” established its next achievement in its activity: the volume of issued guarantees to Kyrgyz entrepreneurs passed 100 million mark and constituted KGS 102,6 m! The number of guarantees as of July 12 constituted 88, they were issued to enterprises of manufacturing, agriculture, agro-processing, clothing, textile, tourism, export-directed and import-substituting enterprises.

Only recently the Chairman of the Board of OJSC “GF” Malik Abakirov held a press conference for Mass Media on results of the first half of 2017. At that moment 84 guarantees were issued in the amount of KGS 93,4 m.

Malik Abakirov commented on this: “The success is not accidental. It has come due to close cooperation between the state company, partner banks and representatives of SMEs.

Concerning partner banks, Aiyl Bank, RSK Bank, CB Kyrgyzstan, Bank of Asia, Finca Bank, Bank Companion and Demir Bank have in total 180 branches, that is 56% of the branch network of all commercial banks of Kyrgyztsan. The doors of these branches are open to our entrepreneurs. Potential of SMEs – our customers – is large. We assist them by providing guarantees.

I would like also emphasize good teamwork of my staff who are very responsible, professional and creative.

Performance indicators of OJSC “GF” demonstrate stable growth, increase of qualitative and quantitative indicators. Support for SMEs contribute not only to business development but economy as a whole as it increases production, develops services sphere and infrastructure. If to speak about social relevance, then it should be noted that it contributes to creation of new jobs, support for existing jobs and allocation of payments and tax to budget.

Such a financial instrument as guarantees attract businessmen. On average during a month 20-30 applications are received. There is a growth of women entrepreneurship in total number of guarantees. Almost a third of guarantees are provided to product exporters and importers.

Today activity of OJSC “GF” is characterized as targeted and consistent, successful and profitable. For information, the volume of net profit for 6 months of 2017 constituted KGS 7 m.

One of the priority objectives of the state company, as noted Malik Abakirov, is also attracting internal and external investments. Specific measures are taken on this issue.

In one word, the state company has a large potential and we will witness major achievements in this sphere again and again.