SOCIAL EFFECT OF GUARANTEES AND REGIONAL DEVELOPMENT
- Posted by: test
- Category: Digest
Activity of OJSC “GF” has a great social and economic effect. The Fund not only assists entrepreneurs in accessing financial resources, strengthening their potential, but also contributes to the employment, creation of new jobs and maintenance of existing ones. Employment of local residents in turn has effect on migration reduction and poverty reduction.
The Fund’s guarantees are a significant contribution to the implementation of government programs for the regional development. Performance indicators show consistent growth. Thus, over the past four months of 2019, the Open Joint Stock Company “GF” approved 144 guarantees in the amount of KGS 225.2 million. The loans approved by the partner banks of the Fund amounted to KGS 655.9 million.
During this period, 283 new jobs were created and 1134 existing ones were maintained.
61 guarantees were issued to support agricultural projects, 8 guarantees for processing of agricultural products, 20 for industry, 12 for tourism and transport, 4 for services and 4 for trade, and 23 for trade.
If we talk about the regions, then, for example, in Naryn region 27 guarantees were issued, Chui – 23, Issyk-Kul – 19, Jalal-Abad – 18, Batken – 11, etc. Guarantees were issued in all regions.
Most guarantees were issued to clients of Aiyl Bank – 60, RSK Bank – 21, CB “Kyrgyzstan” – 19, KICB – 13, “Bank of Asia” – 8, etc. All partner banks participated in issuing guarantees.