OJSC “Guarantee Fund” (hereinafter referred to as OJSC”GF”) holds deposit auctions in order to implement the Program “Increasing the access of small and medium-sized enterprises to financing in order to mitigate the consequences of coronavirus infection COVID-19”.
Funds from deposit auctions must be used by the Bank to provide soft loans in national currency for business entities that are residents of the Kyrgyz Republic and operating in the territory of the Kyrgyz Republic in the following areas:
- production and processing of agricultural products;
- export-oriented and import-substituting enterprises;
- trade and logistics centers and vegetable stores;
- innovative activity (creation of new enterprises or new areas of activity);
- production of protective medical equipment and personal protective equipment.
- the sphere of education;
- Information Technology;
- cluster projects of domestic producers, including the development of intensive sheep breeding;
To participate in deposit auctions of OJSC “GF”, the Bank must meet the following criteria:
- to conclude an Agreement on cooperation in the provision of guarantees to SMEs with OJSC “GF”;
- conclude a General Agreement on participation in the deposit auction;
- Send to OJSC “GF” an application for participation in the deposit auction;
- Send the decision of the authorized body of the bank to participate in the deposit auction;
- Send to OJSC “GF” a list of the Bank’s responsible persons authorized to sign applications for participation in the deposit auction on behalf of the Bank;
- Send to OJSC “GF” information on the implementation of economic standards established by the National Bank of the Kyrgyz Republic at the time of filing an application and for 6 previous months;
- Send to OJSC “GF” information on the absence of a regime of direct banking supervision by the National Bank of the Kyrgyz Republic, as well as on the absence of a prohibition on the implementation of certain types of banking operations, including operations to attract deposits from individuals, to open settlement accounts for individuals and legal entities individuals and credit transactions.
Commercial banks interested in participating in deposit auctions should contact OJSC GF to receive the General Agreement form and the Regulation “On the procedure for holding deposit auctions” by e-mail email@example.com marked “Deposit auction”.