As part of the project for emergency support of entrepreneurs, the Guarantee Fund will provide guarantees in the amount of $ 24 million
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The Ministry of Finance of the Kyrgyz Republic has launched the Project “Emergency support for micro, small and medium-sized Entrepreneurs” with the support of the International Development Association and the Asian Infrastructure Investment Bank.
The Cabinet of Ministers issued an order dated September 2, 2020 on the implementation of the Financing Agreement between the Kyrgyz Republic and the International Development Association on the project of emergency support for micro, small and medium-sized enterprises, as well as the Loan Agreement between the Kyrgyz Republic and the Asian Infrastructure Investment Bank on the project of emergency support for the private and financial sector.
Within the framework of the project, OJSC Guarantee Fund will assist in the implementation of the Component “Mechanism for the distribution of portfolio risks” in the amount of 24 million US dollars.
The Guarantee Fund will provide guarantees to entrepreneurs, which will allow the banking system to maintain the current volumes of business lending in the conditions of the coronavirus pandemic and during the recovery period after it.
These measures will provide entrepreneurs with access to sources of financing and will thereby allow them to establish business processes, retain sales markets, strengthen the material, technical and financial situation.
You can read and download the Decree of the Cabinet of Ministers of the Kyrgyz Republic No. 132-r dated August 9, 2021 below: