Guarantee Fund PROGRAM TO SUPPORT ENTREPRENEURS CONTINUES TO WORK

The implementation of the Program of OJSC “Guarantee Fund” “Increasing access of small and medium-sized enterprises to financing in order to mitigate the consequences of COVID-19 coronavirus infection” continues. As of May 27, 554 guarantees worth 530.9 million soms were issued. The total amount of loans issued by participating banks under this program amounted to 896.4 million soms, of which 611.3 million soms were guaranteed by OJSC «Guarantee Fund». Attractive conditions are offered to entrepreneurs: the loan rate is no more than 10 percent, the term is no more than 36 months, the loan amount is up to 10 million soms. Among the participating banks are Ayil Bank, CB Kyrgyzstan, RSK Bank, Bakay Bank, Bank of Asia, Halyk Bank and Capital Bank. Recall that the SME Support Program began to operate in 2020. OJSC «Guarantee Fund» allocated one billion soms for its implementation, which were distributed among participating banks at deposit auctions according to the submitted applications.