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National Bank of Kyrgyzstan to acquire share in Guarantee Fund’s capital

The package of bills for acquiring of shares in the capital of the Guarantee Fund by the National Bank has been developed and submitted for public discussion. Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov said this at a meeting with the President Sooronbai Jeenbekov.

He told about the ongoing monetary policy, the current situation in the banking sector and measures to ensure the stability of the national currency. In addition, the issue of creating favorable conditions for the development and support of small business and expanding of lending was also discussed.

«The issue of acquiring of shares in the capital of the Guarantee Fund by the National Bank was considered. Capitalization of the Fund will increase the number and volume of loans in the regions,» the report said.

At the expense of the National Bank through the Russian-Kyrgyz Development Fund, the Guarantee Fund was provided with a loan of 100 million soms.

Sooronbai Jeenbekov stressed the need to take measures to reduce interest rates on loans for entrepreneurs and instructed to actively increase the volume of lending to small businesses.

The President named the development of the digital financial space, banking infrastructure, increasing the share of non-cash payments, the number of ATMs and POS-terminals in the regions as the priority directions in the work of the National Bank.