Guarantees for Business.
Either warm January is to blame, or entrepreneurs rolled up their sleeves early, but the fact is clear – in January 2020, OJSC “Guarantee Fund” approved 113 guarantees in amount of 45.3 million KGS. The volume of bank loans under guarantees amounted to 174.3 million KGS.
In total, as of January 31, 1715 guarantees were approved in amount of 1.721 billion KGS. Under the guarantees of OJSC “Guarantee Fund”, partner banks issued loans in amount of 5.831billion KGS.
If compared with the data a year ago, then, in January, for instance, 19 guarantees were approved in amount of 25.2 million KGS. Under these guarantees, partner banks approved loans in amount of 63.5 million KGS.
In total, as of January 31, 2019, OJSC “Guarantee Fund” approved 675 guarantees in amount of 780 million KGS. The volume of loans approved by partner banks amounted to 2.815 billion KGS.
Over the year, there was a dramatic success. The means that OJSC “Guarantee Fund” provided guarantee support to many entrepreneurs, helped them implement business projects, made it possible to purchase machinery and equipment, and replenish working capital.
During the Year of Regional Development, Digitalization of the Country and Child Support, OJSC “Guarantee Fund” will continue its creative activities.
Results of 2019.
On January 31, the Chairman of the Management Board of OJSC “Guarantee Fund”, Malik Abakirov, informed reporters about the results of 2019 during the press coffee meeting with media.
The press-coffee was also attended by the president of the Kyrgyz-Et Association, Professor Yrysbek Abdurasulov, the recipients of guarantees – the head of the sheep farm Aralbek Abdyrasulov, and the head of the rubber shoe manufacturing company Mamatkul Kenzhibaev. The media were represented by Ala-Too-24, ELTR. Piramida, 5 Kanal, Akchabar, Kyrgyz Tuusu, and Asia News newspapers.
Malik Abakirov informed in detail about guarantee support for regional entrepreneurs in 2019 (including export-oriented and women entrepreneurships), the provision of advisory services, assistance in drawing up business plans, participation in enterprise management and other areas of activity.
Among other topics that the head of the fund covered in his speech and video presentation, the practical results of “On Region – One Enterprise” programs, Intensive Sheep Husbandry, the World Bank’s Integrated Dairy Productivity Improvement Project (issuing loans to farmers of Issyk-Kul region).
Malik Abakirov also informed reporters about the export of the Kyrgyz model of guarantee funds. Thus, currently two organizations in Tajikistan are introducing guarantee funds according to our model, which should be considered as international recognition of the effectiveness of our activities, he reported.
At the end of his meeting with reporters, Mr. Abakirov shared his plans for 2020 and, together with the guests, Y. Abdurasulov, A. Abdyrasulov, and M. Kenzhibaev answered numerous questions from journalists.