OJSC “Guarantee Fund”: RESULTS ON FINANCING REGIONAL PROJECTS FOR 7 MONTHS
- Posted by: test
- Category: Digest
Press Conference of OJSC “Guarantee Fund”.
On August 27, 2019, the Deputy Chairman of the Management Board of OJSC “Guarantee Fund”, Azamat Kozhobaev, together with leaders of Russian-Kyrgyz Development Fund, Ayil Bank, and RSK Bank, Erkin Asrandiev, Baktybek Shamkeev, and Azizbek Omorkulov, respectively, participated in a press conference for journalists at the Kabar agency.
Azamat Kozhobaev talked about the assistance of OJSC “Guarantee Fund” in access to finance of small and medium enterprises, guarantee support for regional projects aimed at processing meat, milk, wool, and leather. The activities of Guarantee Fund have an important socio-economic effect. Because of guarantees, new workplaces are created and existing jobs are supported, migration is reduced and poverty levels are shortened in the regions.
ACTIVITY RESULTS FOR 7 MONTHS OF 2019
As of July 31, from the inception of the year 264 guarantees were approved for a total of 468 million KGS. Under the guarantees of Guarantee Funds, 1.4 billion KGS in loans were issued to entrepreneurs by partner banks.
Workplaces. Because of the provided guarantees, 604 new jobs were created and 28016 existing jobs were maintained.
Women Entrepreneurship. Women entrepreneurs received 66 guarantees worth 97 million KGS.
Export. 11 guarantees for export-oriented projects were issued in the amount of 81 million KGS.
Azamat Kozhobaev also noted the high recognition of the activities of Guarantee Fund that Asian Development Bank gave, the participation in international conferences that provoked interest in cooperation from foreign financial institutions, the guarantee funds of Tajikistan, which were and still being created according to the Kyrgyz model of guarantee funds.