In December, employees of the Guarantee Fund conducted surveys of farms of groups of milk producers in the village of Kok-Sai of the Ton district, Baltabai of the Jeti-Oguz region, within the framework of the World Bank project “Integrated Dairy Productivity Improvement in the Issyk-Kul region”.
Based on the results of the conducted surveys, OJSC “Guarantee Fund” assisted in the provision of loans by the Ministry of Finance of the Kyrgyz Republic to 131 beneficiaries, which were united in 20 groups of milk producers in the village of Kok-Sai, for a total of 11 million 218 thousand KGS.
Farm surveys are continuing in the villages of Toguz-Bulak of the Ton district and Jon-Bulak of the Jeti-Oguz district.
When examining farms, attention is drawn to the absence of loan arrears, the presence of land with an area of no more than 5 hectares, the presence of cattle of no more than 3 heads. Also, borrowers must make their own contribution of 10% of the loan amount. It is important to observe the following proportions:
- at least 45% of the direct beneficiaries must be women;
- at least 10% of the direct beneficiaries must be young people (18-29 years old).
Loans are interest-free, issued in the amount of up to USD 1,200 per person (in KGS equivalent), and for a period up to 3 years.
In total, since 2019 and as of December 17, 2020, within the framework of the project, the GF provided 1609 loans to borrowers-milk producers for a total of 113.9 million KGS.
By the Order of the Government of the Kyrgyz Republic No. 148-p of May 23, 2019, the OJSC “Guarantee Fund” was designated as one of the participants – the implementing agency – of the International Development Association (WB) project “Integrated Dairy Productivity Improvement”.
Within the framework of the “Investments at the farm level” component, the GF accompanies the contracts of the Ministry of Finance with farmers – members of borrower groups, conducts household surveys, monitors compliance with the loan repayment schedule, works with bad borrowers and is responsible for repayment of loans provided.