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.
OJSC “Guaranttee Fund”, as a participant in the implementation of the World Bank’s project “Integrated Dairy Productivity Improvement”, continues to conduct surveys of farms in Issyk-Kul region and issues loans.
It is worth to note that the issuance of loans is preceded by a survey of households by employees of OJSC “Guarantee Fund” to select farms and households for financing. The lists are then transferred to Guarantee Committee of the fund, which makes the final decision on loan approval.
Loans are interest-free, issued in the amount of up to 1200 US dollars per person (equivalent in soms), and for a period of 10 months to 3 years.
Support of a Business.
January of the new year turned out to be quite fruitful for guarantees. In total, this month, OJSC “Guarantee Fund” approved 81 guarantees in amount of 10.6 million KGS, under which partner banks approved loans for entrepreneurs in total of 20.9 million KGS.
Which regions and which projects were guarantees issued for?
For example, entrepreneurs from village of Zhalgyz-Terek, Naryn District, Sary-Tash, Alai District, Sur, Kadamzhai District, requested loans for the purchase of dairy cattle. Many people needed a loan to replenish working capital. Among them are enterprises form villages of Aravan and Chogom of Aravan region, Orto-Suu, Alai region, the cities of Uzgen and Bishkek.
The guarantee of OJSC “Guarantee Fund” for obtaining a loan for the purchase of non-residential premises was issued in January to an entrepreneur from Osh.
From the beginning of activities to January 28, 2020, OJSC “Guarantee Fund” issued 1683 guarantees for a total amount of 1686 million KGS. Under these guarantees, partner banks approved loans in the amount of 5 billion 678 million KGS.
Intensive Sheep Husbandry.
On January 28, 2020, the Chairman of the Management Board of OJSC “Guarantee Fund”, Malik Abakirov, and the member of the Management Board Manas Zhakishov, were on a business trip in Batken region. During the trip, they were accompanied by the regional representative of OSJC “Guarantee Fund” Nurlanbek Abdamitov.
During the meeting with local farmers, they spoke in detail about the program of Intensive Sheep Husbandry Development in the Kyrgyz Republic” developed by OJSC “Guarantee Fund”. The program evoked great interest among farmers. Many questions were raised on their part, to which they received detailed explanations.
The participants of meeting expressed their gratitude to the management of OJSC “Guarantee Fund” for providing information on the essence of intensive sheep breeding, and a promise to farmers to assist, if necessary, in obtaining guarantees.