WHAT TO DO IF YOU HAVE INSUFFICIENT COLLATERAL TO OBTAIN A LOAN
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The government will support women’s entrepreneurship in the republic and plans state support programs. The Prime Minister of the Kyrgyz Republic M. Abylgaziev spoke about this at the National Conference “Female Entrepreneurship”, held on July 11 in Bishkek.
To involve women in entrepreneurship, to increase their economic opportunities – such a task is facing the government, financial and credit institutions, including OJSC “Guarantee Fund”.
An active role in the access of women entrepreneurs to financial resources will be played by the Guarantee Fund, since the issue of insufficiency of collateral is relevant for many entrepreneurs, especially in the regions. Today, almost a third of guarantees are issued to women entrepreneurs. Prime Minister M. Abylgaziev noted that the possibility of increasing the proportion of women who receive guarantees is up to 40% is being considered.
Within the framework of the state program, large financial institutions will be recommended to develop preferential long-term loan products or adapt existing ones for women entrepreneurs. In addition, the challenge is training to improve financial literacy.
Commenting on the results of the National Conference to the Economist newspaper, Deputy Prime Minister of the Kyrgyz Republic A. Omurbekova said that “four main financial structures are involved in the issue of financial support for women’s entrepreneurship – Aiyl Bank, RSK Bank, RKDF and Guarantee Fund”, which should remove one of the most acute problems associated with collateral. “