Practical results of cooperation between the Guarantee Fund and entrepreneurs
On July 25, a presentation of the new bus route No. 5 was held, which will connect the Kolmo with the Orto-Say Market and the southern microdistricts. Shydyr Zhol LLC launched 12 comfortable and environmentally friendly Chinese-made buses operating on gas. The event was attended by the Chairman of the Board of GF Malik Abakirov, the leaders of Shydyr Zhol LLC Toktobyubyu Ouerhalik and Nurgazy Baltabaev, representatives of the Bishkek City Hall, municipal territorial administration 14 and 15, residents of the Kolmo and the media.
As Malik Abakirov, Chairman of the Board of the GF, emphasized in his speech, the Fund participated in the financial management of the enterprise, developed a business plan for it, therefore it is nice to see the practical results of cooperation. Malik Abakirov and Toktobyubyu Ouerhalik cut the red ribbon and launched a new route!
In the future, as the director of Shydyr Zhol LLC Nurgazy Baltabaev stated, with the support of the Guarantee Fund, it is planned to assemble buses at its own production base, which will contribute to improving urban transport.
News of the NBKR.
On July 24, 2019, a meeting was held between the heads of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov, the Russian-Kyrgyz Development Fund (RKDF) Erkin Asrandiev and the Guarantee Fund Malik-Aidar Abakirov, during which the parties discussed the financing mechanism for startup projects in Batken, Talas and Naryn regions and the participation of the Guarantee Fund in this project.
As part of the execution of instructions of the President of the Kyrgyz Republic and the implementation of the Decree of the President of the Kyrgyz Republic “On declaring 2019 the Year of Regional Development and Digitalization of the Country,” the National Bank and the RKDF have developed a mechanism for financing startup projects in Batken, Talas and Naryn regions.
The program is aimed at financing startup projects for the processing of agricultural products produced by local producers.
RKDF provides for $ 1 million for the allocation for start-up projects, which will be evenly distributed in three regions, or about 350 thousand dollars for each region. At the same time, the minimum lending threshold for direct financing is from 200 thousand US dollars, respectively, projects with the amount of financing from 200 to 350 thousand US dollars can participate in the competition.
In addition to the above, Erkin Asrandiev added about the launch of a new program for financing startup projects for small businesses in all regions of the country (except Bishkek), which will be implemented jointly with partner banks and the Guarantee Fund. The amount of financing will be from KGS 300 thousand to KGS 1 million, which will be issued for the implementation of new business projects (ideas) at an interest rate (preliminary) of 10% per annum for up to 5 years.
According to preliminary information, the practical implementation of these projects will begin in August of the current year.
As part of the mechanism for implementing this program, the Guarantee Fund will provide guarantees to entrepreneurs whose startup projects will be selected for financing.