On March 5, Kyrgyzstan celebrates Ak Kalpak Day. It has been celebrated in the country since 2011. This is a holiday in honor of the national headdress of the Kyrgyz – white kalpak.
The holiday was born thanks to the famous Kyrgyz director Rysbek Zhabirov. He stated that Ak Kalpak is a national symbol that should not be forgotten. The director insisted that the traditional headdress be awarded its own festive date. It was decided to celebrate the holiday on March 5 – one of the first days of spring.
On this day, many Kyrgyz demonstrate their patriotic feelings and wear Kalpak all day. From ancient times white kalpak is considered the traditional headdress of the Kyrgyz. High kalpaks were worn by noble people, headdresses are lower for young people.
OJSC «Guarantee Fund» congratulates Kyrgyz people on Ak Kalpak Day!
Within the framework of the World Bank (IDA) project in the dairy sector of the Issyk-Kul region in January-February 2021, the Ministry of Finance of the Kyrgyz Republic and OJSC «Guarantee Fund» carried out joint work on financial support for milk producers.
Recently employees of OJSC “Guarantee Fund” conducted household surveys and selection of potential beneficiaries in the villages of Zharkynbaevo Issyk-Kul district, Tuura-Suu, Don-Talaa, Eshperov, Tonsky district.
Currently farm surveys are underway in the village of Temir-Kanat, Tonsky District.
As of March 4, loans from the Ministry of Finance were approved to 129 milk farmers in the amount of 11.3 million soms.
In total, since 2019 the Ministry of Finance has provided loans to 1827 farmers totaling 132.3 million soms.
Supporting the economy in a pandemic.
In June 2020, the Government of the Kyrgyz Republic adopted the programme “Financing of business entities,” aimed at restoring and ensuring economic and social stability, supporting business entities in the context of the spread of coronavirus infection.
OJSC «Guarantee Fund» in the framework of this program from August 2020 provided guarantee support to entrepreneurs conducting business in priority business sectors.
In total, in 2020, 199 guarantees were approved for the amount of 174 million soms. The volume of approved loans amounted to 430 million soms.
OJSC “Guarantee Fund” thus contributed to the creation of new jobs, support for export-oriented enterprises, and ensuring the country’s food security.
Support for agriculture
Recently we published information from the Ministry of Finance on lending to entrepreneurs under the project “Financing of Agriculture” (FoA), starting in 2013. We would like to note that OJSC “Guarantee Fund” also participated in the implementation of this project, providing guarantees for obtaining full amounts of loans.
As part of the annual financing for the “FoA” project in 2017-2020, 255 entrepreneurs received guarantee support for a total amount of 266.6 million soms.
In terms of regions the largest number of guarantees of OJSC “Guarantee Fund” in 2017-2020 within the framework of the “FoA” project were provided to entrepreneurs of the Naryn region – 88. Then there are Chuyskaya – 55, Osh region – 33 guarantees and further in descending order. In monetary terms more guarantees were issued in the Chui region – 103.3 million soms, Jalal-Abad – 40, Osh – 39.3 million soms, etc.
As for the amount of loans received under the guarantees of OJSC “Guarantee Fund”, the largest volume for 2017-2020 noted in the Chui region – 325.3 million soms, then goes Jalal-Abad – 144, Osh – 133, Naryn region – 87.9 million soms, etc.
Aiyl Bank issued the most loans under guarantees for the specified period – 164 (the amount of guarantees – 166.9 million, the amount of loans – 556.2 million), in second place “RSK Bank” – 80 (the amount of guarantees – 81.8 million, the amount of loans – 231 million soms).
Loans under the guarantees of OJSC “Guarantee Fund” under the FoA program were also issued by the banks “Bakay Bank”, “KICB”, KB “Kyrgyzstan”, “Halyk Bank”.