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Enterprises of food, garment industries of Kyrgyzstan to get preferential loans

Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev signed a government decree on financing the development of processing enterprises in the country. The Ministry of Economy reported.

The aim of the project is to provide state support to business entities in the food processing and garment industries. The project does not involve Bishkek and Osh cities. The industries will be supported by affordable and concessional loans.

«Implementation of the project will increase the overall competitiveness of industrial entities, stimulate the growth of the economic potential of the republic by increasing the volume and quality of products entering the local market and intended for export through the formation of effective mechanisms for their financial support. The project will be financed at the expense of the republican budget as well as financial and credit organizations,» the Ministry of Economy stressed.

The ministry outlines that the decree provides clear rules for selection of manufacturers who will receive access to allocated preferential loans and additional conditions for business entities engaged in industrial activities.