Bishkek, May 6, 2020. /Kabar/. Kyrgyz President Sooronbay Jeenbekov received on Wednesday Chairmen of the Board of the Russian-Kyrgyz Development Fund (RKDF) Aziz Aaliyev, Aiyl Bank OJSC Baktybek Shamkeyev, RSK Bank OJSC Azizbek Omorkulov and the Guarantee Fund OJSC Malik Abakirov.
The activities of the country's financial institutions under the regime of emergency and state of emergency, measures taken to support business activities in the country were discussed, the President’s press service reported.
President Jeenbekov noted the current situation and the reduction of food imports once again demonstrated the importance of projects, aimed at supporting domestic production to strengthen food security in the country.
He stressed that the funds of financial institutions should be used to support enterprises in the regions, including those oriented at export, as before.He highlighted the financing of cluster programmes as one of the main tasks for 2020.
Jeenbekov said that, within the framework of the state policy, the emphasis should be placed on maximal support for the enterprises, so that they receive real and tangible assistance and will be able to further reach the planned capacities, as well as to open new export-oriented productions, especially in agriculture.
The heads of financial institutions presented information on current activities under the conditions of negative impact of coronavirus infection on business activity, spoke about priority plans for the near future.
In the first quarter of 2020, 178 projects were financed by the RKDF for the amount of USD 22 million. Four major projects were approved to finance the activities of dairy plants, logistics complexes and manufacturing companies.
In view of the pandemic, anti-crisis measures in the form of targeted support to borrowers were launched, and a complete restructuring of loans was carried out. Three cluster products in the production and processing of milk, meat and trout were developed and launched.
In order to support local entrepreneurs in Talas, Batken and Naryn Oblasts, the minimum credit threshold was lowered from USD 200,000 to USD 100,000. This measure will make it possible to increase the volume of credit and improve access to the Fund's resources in remote regions.
By the end of four months of 2020, more than 16 thousand credits worth about KGS 4 billion were issued by Aiyl Bank OJSC. Of these, 81% of funds were directed to the regions, mostly to projects in agriculture, production and processing of agricultural products.
In the current situation, loans worth more than KGS 5 billion have been restructured. Soft loans to farmers and peasants are also being extended under the Agricultural Finance - 8 program.
In conditions of declining business activity RSK Bank OJSC has developed a number of privileges for business. Benefits have been granted on 1,830 loans worth about KGS 3 billion. Loans have been restructured and delays from 3 to 6 months have been granted.
In order to increase the availability of banking services, for the first time in Kyrgyzstan the bank launched a project to withdraw cash from the card at the supermarket cash desks without using an ATM.
Since the beginning of the year, RSK Bank OJSC has issued about three thousand loans for the total amount of over KGS 2.7 billion. Their share of regional loans was 89%. The funds were mainly directed to agriculture, production, processing and trade.
Since the beginning of this year, the Guarantee Fund OJSC has issued 593 guarantees, 97% of which were extended to the regions. Implementation of two cluster projects is also continuing - development of dairy industry in Issyk-Kul Oblast and intensive development of sheep breeding.
It was noted that the activity of financial institutions, despite the spread of coronavirus infection in the country, has not ceased. Priority is given to projects aimed at supporting business initiatives in the regions of the country.
President Sooronbay Jeenbekov once again stressed the importance of supporting export-oriented enterprises, especially in remote areas to create new jobs.
At the same time, he recalled the need to strengthen work on digitalization of financial services.
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