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    More options for guarantee support

    On November 27, 2020, following the results of the extraordinary general meeting of shareholders, it was decided to increase the authorized capital of the Guarantee Fund by the amount of 2 billion KGS by issuing an additional issue of shares. The buyer of the shares is the National Bank of the Kyrgyz Republic.

    Thus, the authorized capital of OJSC “GF” will amount to 4.132 billion KGS. The share of the National Bank of the Kyrgyz Republic in the shares of the OJSC “GF” increased to 85.92, the State Property Management Fund under the Government of the Kyrgyz Republic owns 14.08% of the shares.

    The increase in the authorized capital is the recognition of the success and efficiency of the activities of the OJSC “Guarantee Fund” by the shareholders. Now the Fund’s capabilities for guarantee support for SMEs in the regions of Kyrgyzstan are significantly expanding.

    Results of the third deposit auction

    On November 27, 2020, as part of the implementation of the program “Increasing access for SMEs to financing in order to mitigate the consequences of coronavirus infection COVID-19”, the Guarantee Fund held the third deposit auction.

    The auction was attended by nine partner banks that entered into an agreement with OJSC “Guarantee Fund” within the framework of the above program.

    According to the results of the deposit auction, the volume of placement amounted to 531,500,000 (Five hundred thirty one million five hundred thousand) soms (KGS), the average rate to the ultimate beneficiaries was 9.68% per annum.