Bishkek, Feb. 22, 2019. /Kabar/. It is necessary to create development banks in the country in order to develop the industrial sector in Kyrgyzstan, Deputy Ekmat Baibakpayev told during a meeting of the working group on discussion of the Action Plan for the implementation of the Industrial Development Strategy of the Kyrgyz Republic for 2019-2024.
He said that such banks could issue "long money" for business development at low interest rates. “What production there can be, if banks issue loans at 15 percent per annum. What business can we talk about? We need our own development bank and only then can we say that the economy will move forward, and the whole industrial complex respectively,” Baibakpayev said.
This Plan provides for a number of comprehensive measures for the development of the mining, food, processing and light industries, as well as the construction sector and tourism. In addition, measures to launch new and idle enterprises in the regions have been provided for.
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