Region Development.

The issue of participation of OJSC “Guarantee Fund” in the new World Bank project for the development of regions was discussed on October 21, 2019 by the Chairman of the Management Board, Malik Abakirov with representative of the World Bank Dildora Tadzhibaeva and the representative of the Ministry of Finance of the Kyrgyz Republic Bermet Musakozhoeva.

 Dildora Tadzhibaeva noted that within the framework of the partnership program of the Kyrgyz Republic and the World Bank for the period of 2019-2022, Kyrgyzstan’s priority areas were identified, including support of regions: development of manufacturing, job creation, the support of enterprises involved in processing, sorting, storage, packaging, sales of agricultural products.

Due to the successful launch of activities of OJSC “Guarantee Fund” in implementation of the World Bank project “Integrated Dairy Productivity Improvement” in Issyk-Kul region, the World Bank, according to D. Tadzhibaeva, is further interested in the active participation of OJSC “Guarantee Fund” in implementation of the new project, in terms of providing assistance in access to finance to enterprises of the real sector, providing guarantees, conducting seminars on financial literacy.

Malik Abakirov talked about the support that OJSC “Guarantee Fund” provides to entrepreneurs doing business in all regions of the republic, including in priority sectors of the economy – agriculture, agricultural processing, and manufacturing production.

In addition to directly providing guarantees to entrepreneur, OJSC “Guarantee Fund” provides consultations for businessmen, helps develop business plans, further said Malik Abakirov. The fund also implements its own “One Region – One Enterprise” program, more it implements such service as participation in enterprise management, conducts seminars throughout the country for entrepreneurs and employees of partner banks on conditions and mechanisms for providing guarantees.

The accumulated experience of supporting SMEs will enable OJSC “Guarantee Fund” to successfully assist in implementation of the World Bank project of development of regions, noted Malik Abakirov at the end of the meeting.