The authorized capital of state-owned banks of Kyrgyzstan has been increased to the historical level. The President Sadyr Japarov said at a meeting of the Cabinet of Ministers.
According to him, the activities of state banks are aimed at supporting business and developing the economy.
«Before I came to power, there were no mechanisms for economic development. State-owned banks did not have sufficient authorized capital. Therefore, they could not provide support to businessmen,» the president said.
We increased their authorized capital: RSK Bank — up to 5.4 billion soms, Aiyl Bank — 5.5 billion soms, Keremet Bank — 8 billion soms. This has never happened in the history of Kyrgyzstan.
Sadyr Japarov
According to the president, state banks issued loans for 20 billion soms over the year.
«At least 72 percent of them were sent to the regions. State-owned banks will hopefully change their policy. The money should be directed to its intended purpose and controlled, that is, loans should not be issued for feasts, but for business development only,» Sadyr Japarov said.
The head of state noted that the measures being taken should help business get out of the shadows.
Sadyr Japarov reports on a year of work as president and head of the Cabinet of Ministers. His report is based on promises made during his presidential campaign.
