The World Bank and the Asian Infrastructure Investment Bank plan to provide emergency support to entrepreneurship in Kyrgyzstan

On June 24, 2020, the Prime Minister of the Kyrgyz Republic K. Boronov approved the composition of the negotiating group from the Government of the Kyrgyz Republic for negotiations with the World Bank to discuss the “Emergency Support for MSMEs” project. The purpose of the project is to provide support to micro, small and medium-sized enterprises (MSMEs) in the context of the spread of the COVID-19 pandemic.

The project is considering the possibility of providing the Kyrgyz Republic with 100 million USD, of which 25.5 million USD is planned to be transferred to the Guarantee Fund to ensure access for MSMEs to financial resources by providing them with guarantees to obtain the required loan amount in case of the lack of collateral.

The project is aimed at reducing the level of economic and social consequences of the spread of coronavirus infection and recovering from them. MSMEs will have the opportunity during and after the pandemic to receive the necessary loan amounts with the support of the GF for the restoration and development of business, preservation of jobs.

As a result of the project, it is expected to increase the number and volume of guarantees issued by OJSC “GF” for MSMEs loans in the regions of the republic, as well as reduce the risks of financial institutions.

The composition of the negotiating group:

Abdybali tegin Suerkul – Deputy Minister of Finance of the Kyrgyz Republic;

Akhmatov Sultan Mamatovich – Deputy Minister of Economy of the Kyrgyz Republic;

Tezekbaeva Ainura Sarylbekovna – Deputy Chairman of the National Bank of the Kyrgyz Republic (as agreed);

Duishenkul kyzy Dinara – acting Head of the International Cooperation Department of the Ministry of Finance of the Kyrgyz Republic;

Sydykov Bakyt Tolomushovich – Head of the Department of External Relations and Coordination of Donor Aid of the Ministry of Economy of the Kyrgyz Republic;

Omuraliev Ermek Sotsialievich – director of the sixth political department of the Ministry of Foreign Affairs;

Imanalieva Tamara Kulanbekovna – Head of the International Cooperation Department of the Ministry of Justice of the Kyrgyz Republic;

Abakirov Malik Barktabasovich – Chairman of the Board of OJSC “Guarantee Fund”