GUARANTEE FUND – A NEW PHENOMENON IN THE ECONOMIC SPHERE OF KYRGYZSTAN

Expert Opinion.

Y. Abdurasulov, PhD of agriculture sciences, the President of “Kyrgyz-Et” Association.

OJSC “Guarantee Fund” has become a new phenomenon in the economic sphere of Kyrgyzstan. At first, many, both in the business sphere and in government bodies, did not believe that OJSC “Guarantee Fund” could successfully earn money. But it took place, earned, and earned quite successfully, gaining momentum every year.

The main task of OJSC “Guarantee Fund”, as you know, is to guarantee part of the entrepreneur’s pledge to obtain the required amount of a bank loan. Today, numerous entrepreneurs use its services and their number is increasing every year. OJSC “Guarantee Fund” gave a good impetus to business development in Kyrgyzstan. We must pay tribute to the founder and head of OJSC “Guarantee Fund”, Malik Abakirov, who in a short time managed to make the fund one of the country’s successful and efficient economic structures.

The management of OJSC “Guarantee Fund” does not stand still, along with entrepreneurs, with government agencies, with banking structure, develops and offers all new product lines for entrepreneurs and farmers of the county. Today, OJSC “Guarantee Fund” has developed and is implementing large-scale business projects in industry, processing industry, agriculture and other sectors of the country’s economy.

As an example, we can cite a project developed by OJSC “Guarantee Fund” on the development of intensive sheep husbandry in Kyrgyzstan. Livestock is the leading sector of the entire economy of Kyrgyzstan. The income-generating livestock industry is the meat industry. In the gross agricultural product, in monetary terms, meat industry accounts for 35% – more than one third.

The implementation of this project will have the strongest multiplier effect, tens of thousands of new jobs will appear, the processing industry will develop, the export potential of thee industry and the whole country will increase (today the whole world knows that high-quality and environmentally friendly food products are being produced in Kyrgyzstan, becoming brad of the country for which demand is growing every day).

Incomes will increase, especially for residents of rural communities, including in the high mountainous and inaccessible regions of the country, where livestock farming is the only type of employment and income generation, migrants will return. In a comprehensive plan, this will become the key to the successful implementation of the Decree of the President of the Country on the development of regions.

Qualified, modern and educated people work at OJSC “Guarantee Fund”. Today, they provide the business sector not only with low-interest collateral financial resources, but also provide a full range of services for the country’s business sector – training, consulting, assistance in developing business projects and their support.

The services of OJSC “Guarantee Fund”, which is important, are available in all regions of the country. To do this, regional representative offices are opened, branches operate in Naryn and Osh regions. This allows OJSC “Guarantee Fund” to expand the reach of entrepreneurs and provide them with all kinds of support on places.