GUARANTEE AMOUNT REACHED KGS 1 BILLION! GUARANTEED LOANS AMOUNTED TO KGS 3.5 BILLION!
- Posted by: test
- Category: Digest
As of May 8, the amount of 816 approved guarantees exceeded KGS 1 billion or USD 14 million. The amount of guaranteed loans approved by partner banks reached KGS 3.5 billion or nearly USD 50 million.
From the beginning of the current year, 157 guarantees were approved in the amount of KGS 244.8 million. The guaranteed loans approved by partner banks amounted to KGS 715.5 million.
The successful disbursement of the RKDF loan continues. As of May 8, 55% of the loan has been disbursed. 33 guarantees were issued in the amount of KGS 54.7 million. This loan is targeted and aimed at supporting regional entrepreneurs.
Behind these figures there is the real contribution of OJSC “Guarantee Fund” (the Fund) to the development of small and medium enterprises and the country’s economy as a whole. The Fund demonstrates steady development, as evidenced by the achievement of the plan and its over-fulfillment.
Ahead there is a lot of work on promotion of the guarantee system. Many Kyrgyz entrepreneurs still have problems when applying to banks for loans due to insufficient collateral (in cash, it is KGS billions).