ACCESS TO FINANCE FOR SME: GUARANTEE FUND

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Dear friends and colleagues! We kindly remind you that if you wish to have the book “Access to Finance for SME: Guarantee Fund” (by Malik Abakirov and Syrgak Abakirov), then you can purchase it at “Raritet” bookstores (Razzakov Street) and “Nuska” (Erkindik Avenue).

This relevant and useful book is for anyone interested in development and promotion of small and medium enterprises in Kyrgyzstan.

We bring to your attention the opinions of the representatives of the government agencies about the guarantee system.

Almaz Baketaev, First Vice-Mayor of Bishkek, former Deputy Minister of Finance of the Kyrgyz Republic:

“The process of development of small business and private entrepreneurship, an increase of their share in GDP, ensuring the output of their products to foreign markets require special attention from the state. Guarantee funds have a significant impact on the entrepreneurship development in the world. They have been successfully operating in many countries for a long time, providing loans to small enterprises. This practice thus not only provides support to existing small enterprises, but also encourages the establishment of new enterprises.

The guarantee fund system is a serious catalyst for the development of small and medium enterprises, and the use of the guarantee fund system in the programs of the Government of the Kyrgyz Republic to subsidize interest rates on loans to agriculture and processing, as well as to subsidize interest rates on loans to export-oriented and import-substituting enterprises, to finance HACCP implementation will improve the efficiency of the use of budget funds and dynamic development of SMEs. “

Daniyar Imanaliev, Head of the Department of the Apparatus of the President of the Kyrgyz Republic, former Deputy Minister of Economy of the Kyrgyz Republic:

“Governments around the world consistently take measures aimed at creating the most favorable conditions for doing business in their countries. Various reforms are being carried out, new mechanisms of support and development of domestic entrepreneurship are being introduced. The Government of the Kyrgyz Republic is also constantly taking measures to create the most competitive and attractive business conditions in the republic.

An important role in the development and promotion of entrepreneurship is played by financial instruments that ensure access to financial resources. In this regard, the Government of the Kyrgyz Republic, focusing on this area, relying on the high need of SMEs for guarantees, established the Open Joint-Stock Company “Guarantee Fund” in 2016.

The established “Guarantee Fund” and the further development of the guarantee system in the Kyrgyz Republic contribute to the development and strengthening of entrepreneurship in the country.

The OJSC “Guarantee Fund” is one of the organizations that form the support infrastructure for SMEs, actively assisting in the implementation of measures aimed at their development and promotion, implemented on the basis of program-targeted principles.”