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    Projects for Region Development.

    On November 6, 2019, the regular meeting of the Competition Commission on selection of investment business projects, infrastructure projects, and development programs was held. The meeting was attended by the Chairman of the Management Board of OJSC “Guarantee Fund”, Malik Abakirov, and the Head of the Consulting Services Department, Marat Urustemov.

    39 business projects from Batken, Talas, Osh, Chui, and Jalal-Abad regions, for total amount of more than 600 million KGS, were submitted to the Competition Commission for consideration. As a result of the discussion, 19 projects were approved for a total amount of 155.459 million KGS in the framework of 2 billion KGS allocated from the republican budget for regional development.

    Projects from Batken, Osh regions were represented by Governor Akram Madumarov. 23 projects were submitted, a number of them were approved by the Commission, including one of two projects prepared with the participation of OJSC “Guarantee Fund”. The selected project is focused on fishery in Isfana city.

    When discussing this draft, clarifications were given to members of the Tender Committee by the Chairman of the Management Board of OJSC “Guarantee Fund”, Malik Abakirov.


    Ways to Improve Financial Literacy.

    On October 29, 2019, a financial fair was held in Bishkek Park Mall as a part of the State program for increasing the financial literacy of the population of the Kyrgyz Republic. The fair was organized by the State Financial Supervision Service in conjunction with the financial and insurance companies of Bishkek.

    The fair was attended by the head of Guarantee and Product Development Department of OJSC “Guarantee Fund”, Erik Talasbaev. During the event, he informed about the activities of OJSC “Guarantee Fund” in assisting SMEs, the development of a guarantee system in Kyrgyzstan, and talked about the specific conditions for obtaining guarantees.

    As part of the financial fair, a presentation of financial products was held, including banking, microfinance, insurance, investment companies, independent financial literacy consultants, and the game “Savings” aimed at developing financial literacy skills among the population.

    32 financial institutions attended the fair, including microfinance organizations, insurance companies and others. The participants visited the financial services exhibition, got acquainted with the conditions for their receipt, and also received independent advice on regional family budget management, financial planning and the rational use of financial services.

    Given the high interest of financial institutions and visitors, it is projected to organize such fairs on an annual basis.