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National Bank extends validity of resolutions on assistance to Batken residents

The National Bank of Kyrgyzstan extended the validity of two resolutions regarding affected borrowers in Batken region until March 30, 2024. The bank’s press service reports.

On October 6, 2022, the Board of the National Bank of the Kyrgyz Republic adopted a resolution «On some decisions of the National Bank of the Kyrgyz Republic on providing support to clients of commercial banks, non-banking and specialized financial and credit organizations affected by the armed conflict in Batken and Osh regions.»

As of September 1, 2023, at least 514 borrowers applied to financial and credit organizations. At least 378 loans for 36.4 million soms were written off, 230 loans for 324.3 million soms were restructured.

In November 2022, a resolution was adopted by the Board of the National Bank, according to which commercial banks, microfinance organizations and Guarantee Fund OJSC are recommended to prioritize applications for loans/guarantees of borrowers living and/or carrying out economic activities in Batken region, and also to review their internal procedures for issuing loans.

As part of the implementation of this document, as of September 1 of this year, 76,369 loans were issued for 8,486.7 billion soms. Guarantee Fund OJSC issued 451 guarantees for 199.3 million soms.

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