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    Regional support

    OJSC “Guarantee Fund” issued 1504 guarantees to entrepreneurs from all regions to obtain loans. This is 558 more guarantees than for the entire 2019. The amount of 1504 guarantees reached 789 million KGS. Loans secured by guarantees amounted to 3 billion 118 million KGS.

    In total, from the beginning of activity to the current date, 3106 guarantees were approved for the amount of 2 billion 465 million KGS. The volume of loans reached 8 billion 775 million KGS.

    Despite the cold, business has not slowed down the pace of development, continues to work hard, to solve its production problems. If necessary, it uses bank loans, including with the use of guarantee support from OJSC “Guarantee Fund”.

    In the second decade of November, for example, the entrepreneurs of the Jalal-Abad region used the received loans to open a new business in the service sector, in the Chui region – for the construction of a poultry farm, in the city of Osh – for the purchase of industrial equipment, in Bishkek – for textile production, in the Issyk-Kul region – in the field of tourism for the purchase of fixed assets for the organization of rental of goods for sports and leisure, etc.

    Countries of Asia created the world’s largest trade union

    World News

    In Hanoi, an agreement was signed to create the world’s largest free trade bloc. Regional Comprehensive Economic Partnership (RCEP) includes 15 countries of the Asia-Pacific region. The union was formed as an alternative to the Trans-Pacific Partnership (TPP), associated with US President Donald Trump, writes Reuters.

    The membership included 10 members of the Association of Southeast Asian Nations (ASEAN), China, Japan, South Korea, Australia and New Zealand. India withdrew from the talks in November 2019, but ASEAN stressed that “the door remains open for it.”

    “The RCEP will soon be ratified by the signatory countries and will enter into force, which will contribute to economic recovery after the coronavirus pandemic,” said Vietnamese Prime Minister Nguyen Xuan Phuc, who held the ceremony as the chairman of the Association.

    The RCEP is projected to occupy 30 percent of the global economy and cover 30 percent of the world’s population – about 2.2 billion consumers. The partnership will also help strengthen China’s position by placing it in a better position to shape the region’s trade rules.

    At the same time, the creation of the bloc was a historic breakthrough: China and Japan reached a bilateral agreement on tariff cuts for the first time.