A good start

The Fund as of December 31, 2016 provided 3 guarantees for entrepreneurs involved in tourism and light manufacturing products. It is a good start for Guarantee Fund, which started its activity on November 2016. For this short period of time the Fund developed business processes and business contacts with business communities, also signed Cooperation agreement with 4 commercial banks.

The first guarantee recipient was the entrepreneur involved in services and tourism by arranging the leisure time of local residents and tourists. The second guarantee recipient is engaged in production of light manufacturing products in Osh city and exports them to EurAsEC countries. It should be noted that the business is led by a woman and subsequently the Fund will pay special attention to women’s entrepreneurship.  The third guarantee is approved to legal entity from Karakol city, who contributes to tourism development in this region and provides services on organizing business conferences and seminars. In total, guarantees in the amount of KGS 1 890 thousand are provided by OJSC “Guarantee Fund”.

After finishing all required volume of preparatory work, in 2017 the Fund will continue its work on SME support by providing guarantees as well as study and develop new mechanisms and instruments for SME growth.

We also would like to congratulate all citizens of the Kyrgyz Republic with coming 2017 and wish peace, health, happiness and prosperity!