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    Dear our visitors! We inform that the book “Access to Finance for SME: Guarantee Fund” (by Malik Abakirov and Syrgak Abakirov) can be purchased at Raritet bookstores (Razzakov Street) and Nuska (Erkindik Avenue).

    This relevant and useful book is for everyone who are interested in the development and promotion of SME in Kyrgyzstan.

    In the meantime, we would like to introduce the opinions of our bankers on the guarantee system, which are stated in this book.

    Nurlan Aldayarov, member of the Board of CJSC “KICB”, ex-Chairman of the Board of CJSC “Bank of Asia”:

    CJSC “Bank of Asia” has been working with regional guarantee funds since 2011 and continues successful cooperation with the OJSC “Guarantee Fund”. The guarantee issue mechanism of OJSC “Guarantee Fund” is a successful example of state support for small and medium enterprises through the possibility of expanding crediting, promoting entrepreneurship in regions of the country where there is a problem of providing the necessary collateral, reducing the banks’ credit risks and increasing issuing loans. Partnership in the issue of loans secured by guarantees is also one of the additional competitive advantages for Bank of Asia, that serves as a good support for bank customers in the context of the need to increase financing.”

    Margarita Cherikbaeva, Chairman of the Board of CJSC “Finca Bank”:

    “Guarantee funds are an effective tool for hedging both lender’s risks and borrower’s risks, acting as an intermediate protective mechanism. I would emphasize 2 main points: 1) A lender’s risk reduction has a positive effect on the pricing strategy of a financial institution and may entail a decrease in

    interest rates; 2) Guarantee funds reduce barriers to crediting, as the clients with a lack of own collateral can use guarantees and receive the necessary loan amount.”


    Total guarantee amount reached KGS 961.9 million

    Total guarantee amount reached KGS 961.9 million

    SME promotion.

    From the beginning of its activities as of 24 April 2019, the OJSC “GF” approved the issue of 787 guarantees to entrepreneurs in the amount of KGS 961.9 million. Partner banks approved loans in the amount of KGS 3,360 billion.

    The current year, 131 guarantees were approved for this date in the amount of KGS 206.9 million. The loans approved by partner banks exceeded 600 and amounted to KGS 607.9 million.

    From the beginning of the month of April, 41 guarantees were issued in the amount of KGS 71.6 million, the amount of guaranteed loans reached KGS 246.4 million.

    Most of the guarantees were issued to entrepreneurs – clients of Aiyl Bank (17), CB Kyrgyzstan (9), RSK Bank (8), KICB (2), and other banks (BTA Bank, Bakai Bank, Bank of Asia, Kompanion, FINCA Bank).

    Entrepreneurs engaged in agriculture received 15 guarantees, agricultural processors – 6, production workers – 6 guarantees. In the trade 9 guarantees were provided, the transport industry – 2 guarantees, the rest on construction, tourism and services.

    In what spheres have entrepreneurs used April guaranteed loans? Most of them invested in animal husbandry (13), and also to grow grain crops, produce flour, food, building materials, textile production, cotton and wool processing, car maintenance and repair, and trade.

    As of April 24, OJSC “GF” disbursed 47 percent of the RKDF loan (KGS 100 million). 29 guarantees were provided to regional entrepreneurs in the amount of KGS 47.4 million.