WB to allocate $ 24 mln to Guarantee Fund to help entrepreneurs

Bishkek, Aug. 18, 2020 / Kabar /. The Guarantee Fund of Kyrgyzstan is negotiating with the World Bank, which approved a program of assistance to Kyrgyzstan for entrepreneurs amounting of USD 100 million, of which USD 24 million will be transferred to the fund to help entrepreneurship. Chairman of the board of the Guarantee Fund OJSC Malik Abakirov said that the agreement will have to be ratified in the parliament and it is assumed that after being signed by the president, the Guarantee Fund in late September and early October will start implementing the project. “We offer entrepreneurs two large projects so that they receive good enough help. In addition, we are implementing a project to help the dairy sector in Issyk-Kul. The Guarantee Fund has already issued 1 thousand 183 loans, which it has guaranteed before the Ministry of Finance, they are aimed at purchasing cows. These loans are interest-free and given that the project was successful, the World Bank is working with the government, the Ministry of Finance, and the Ministry of Agriculture to expand this project to 3 or more regions,” Abakirov said.