Bishkek, Oct.21, 2019. /Kabar/. The World Bank's Integrated Dairy Productivity Improvement Project, one of the participants of which is the Guarantee Fund OJSC, has been launched in Issyk-Kul Oblast, Chairman of the Board of the Guarantee Fund Malik-Aidar Abakirov told at a press conference at Kabar News Agency.
The chairman said the Fund participates in the process of selection of applicants within the framework of the Investments at the Farm Level component, the total amount of which is $2 million, ensures the execution of loan agreements with farmers - members of groups of borrowers and monitors compliance with the schedule of repayment of loans, as well as is responsible for the repayment of loans.
“Today, 69 loans worth KGS 5 million 572 thousand have been approved for farmers from the villages Svetlaya Polyana, Darkhan, Boz-Beshik, Taldy-Suu and Ken-Suu (Jeti-Ögüz and Tyup regions).
Loans are aimed primarily at small farmers who cannot obtain loans from commercial banks on market terms. Loans are given in the amount of $1200 per person and for a period of 10 months to 3 years. These interest-free loans of this size are sufficient to enable farmers to make their first investments without major risks,” Abakirov said.
The development objective of the Integrated Dairy Productivity Improvement Project for Kyrgyz Republic is to enhance dairy animal productivity and milk quality on beneficiary farms.
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