OJSC “Guarantee Fund” supported the launch of a new steel foundry in the Issyk-Ata district

In the first quarter of 2020, 570 non-bank financial and credit organizations operated in the republic, including 285 pawnshops, 162 microcredit organizations, 122 credit unions and one specialized financial and credit organization. This is stated in the materials of the National Statistical Committee.

In January-March 2020, loans were issued in the amount of 7 billion 577.5 million KGS, which is 10.1% or 692.9 million KGS more than in the first quarter of 2019. Basically, there was an increase in loans for consumer needs, in the field of agriculture, industry and construction.

The aggregate loan portfolio of non-bank financial and credit institutions increased by 23.9% compared to the first quarter of 2019 and as of April 1, 2020 amounted to 23 billion 518.2 million KGS. The main share of credit funds accounted for consumer lending (28.7% of the total loan portfolio), agriculture (27.6%), trade (12.9%) and construction (10%).

The share of long-term loans in the total loan portfolio amounted to 65.7% (15 billion 452.2 million KGS), short-term loans – 34.3% (8 billion 66 million KGS). Almost the entire volume of loans was issued in national currency – 23 billion 36.6 million KGS, or 98% of the total volume.