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National Bank of Kyrgyzstan to grant loans to commercial banks in soms

The National Bank will provide loans in soms to commercial banks to mitigate the negative impacts of COVID-19 pandemic in Kyrgyzstan. The relevant resolution was adopted by the Board of the National Bank of the Kyrgyz Republic.

The loans will be provided to comply with mandatory reserve requirements, fulfillment by banks of economic and other standards of the National Bank, timely fulfillment of obligations to depositors.

Such a loan can be received until June 30, 2020. The interest rate on the loan is set at the rate of the National Bank at the date of application.

«The bank does not have the right to use the loan received from the National Bank to conduct operations in the foreign exchange and securities markets, including the state securities market and the National Bank’s notes,» the statement says.