First Vice Prime Minister Artem Novikov met with Managements of banking and financial organizations

In the Government of the Kyrgyz Republic

On October 22, First Vice Prime Minister of the Kyrgyz Republic Artem Novikov held a meeting with the Managements of banking and financial organizations. The meeting was also attended by the Chairman of the Management Board of the OJSC “GF” Malik Abakirov.

“Today the situation in the country has stabilized,” said Artem Novikov. – State bodies are functioning in full. The Government is making every effort to ensure the safety, guarantee and protection of entrepreneurship. It is important for us now to discuss with you the prospects for implementing programs of state support for the financial sector, preferential lending to businesses, as well as ensuring the required level of liquidity in the banking sector and the stability of financial institutions,” he said.

The First Vice Prime Minister highlighted that it is necessary to unite efforts for the further functioning and development of the banking sector and the financial market as a whole.

“The analysis showed that the current situation did not undermine people’s confidence in the banking system, and there is no large outflow of the deposit base in commercial banks. I think that the population sees the efforts that the Government is making and I hope there will be no drastic changes. The government is ready to support the banking sector. Together with the National Bank, the issue of resuming concessional lending programs for entrepreneurs from November 2020 is being resolved. For our part, we would like to ask the heads of commercial banks to intensify the work on lending to entrepreneurs and the introduction of digital technologies in order to improve the quality of customer service,” the First Deputy Prime Minister emphasized.

Artem Novikov noted that due to the current situation, certain entrepreneurship entities could have problems with the loan repayment and asked the heads of the banking sector, as far as possible, to cooperate with entrepreneurship entities on this issue.