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Guarantee Fund to allocate billion soms to support entrepreneurs

Guarantee Fund OJSC has launched a program for 1 billion soms to support entrepreneurs. Chairman of the Board of the Fund Malik Abakirov told at a press conference.

According to him, the program is in line with the authorities’ anti-crisis plan to reduce the negative impact of coronavirus on the economy.

«To ensure equality among partner banks, we will announce an auction for placing money in the near future. It will be conducted by the method of meeting the applications of banks with the lowest interest rate,» Malik Abakirov informed.

The loan amount envisaged within the framework of the program is up to 10 million soms, the loan term is up to 60 months, the interest rate is up to 10 percent.

The Guarantee Fund has provided 1,083 guarantees for eight months.

To date, more than ten guarantees for 15 million soms have been provided in a pilot mode, the amount of loans exceeded 35 million. All guarantees were provided to small and medium-sized entrepreneurs in the regions.