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National Bank to hold credit auction to mitigate effects of COVID-19 outbreak

The National Bank of Kyrgyzstan plans to hold a credit auction for commercial banks on June 19. Website of the National Bank of the Kyrgyz Republic says.

According to the bank, the auction is held to mitigate the negative economic consequences of the spread of COVID-19 and support the real economy.

The total amount of proposed credit resources will be 1 billion soms.

Banks will be able to direct this money only on lending to business entities, including to provide funds for working capital.

«The parameters and conditions of the credit auction will be determined based on the results of the meeting of the National Bank’s Monetary Regulation Committee scheduled for June 15, 2020,» the National Bank said.

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