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National Bank of Kyrgyzstan may become founder of Guarantee Fund

The National Bank of Kyrgyzstan may become one of the founders of Guarantee Fund JSC. The press service of the organization reported.

According to it, the parliamentary committee on economic and fiscal policy recommended the National Bank to become the founder of the Guarantee Fund. At present, the government and the National Bank are taking concrete steps to put the proposals in practice. So, in June 2018, the authorized capital of the fund was increased by 300 million soms by order of the Cabinet. The first two tranches of 100 million soms have already been transferred to its account.

«To give impetus to the development of the guarantee system in Kyrgyzstan, to increase the potential of Guarantee Fund JSC in assisting the small and medium-sized enterprises, the parliament deputies proposed to conduct additional capitalization and increase the fund’s assets,» the report said.

In the coming years, the capitalization of Guarantee Fund JSC will amount to 3 billion soms. This will help to accelerate the assistance to the small and medium-sized businesses in providing guarantees and implement the programs of the fund on training of entrepreneurs.