SME SUPPORT IS PUBLIC POLICY
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- Category: Digest
Guarantees for SME.
“In our country, conscientious entrepreneurs establishing enterprises in the regions, creating new jobs and bringing income to the treasury of the state, should be the most respected people,” said the President of the Kyrgyz Republic Sooronbai Jeenbekov on November 2, 2018, during a visit to the new milk processing factory Alaiku Organics LLC in Osh.
The President also summarized: “We must and we will help entrepreneurs who develop regions, care for farmers and make a significant contribution to the development of the country’s economy. This is our public policy.”
OJSC “Guarantee Fund” makes a direct contribution to this policy implementation, providing assistance to SMEs in access to loan resources of banks by issuing guarantees in case of insufficient collateral.
Thus, as of May 24, 2019, Guarantee Fund approved 834 guarantees totaling KGS 1.024 billion. Partner banks approved guaranteed loans in the amount of KGS 3.393 billion.
From the beginning of the current year, 178 guarantees were approved in the amount of KGS 269.5 million. Partner banks approved guaranteed loans to entrepreneurs in the amount of KGS 787 million.