A guarantee mechanism has been launched in Kyrgyzstan to provide the economy with financial resources. This was stated by the Minister of Economy of Kyrgyzstan Daniyar Amangeldiyev during the Ministy's collegium, the portal Akchabar.kg reports.
“Within the framework of this mechanism, the procedure for providing guarantees to business entities was approved. This mechanism, through the Financial and Credit Fund, made it possible to act on behalf of the Cabinet of Ministers as a guarantor of projects that are of priority importance for the national economy of the country,” the head of the department said.
He added that today investment projects worth almost $190 million are guaranteed through this mechanism. Of these:
- a loan to Kyrgyz Textile LTD for $50 million;
- a loan to TNK Shumkar for $5.5 million;
- construction of a small hydropower plant with a capacity of 21 megawatts at the Orto-Tokoi reservoir "Chakan HPP", the cost of the project is $35.9 million;
- Naryn Production Enterprise, construction of the Kulanak HPP $98 million
At the same time, he said that the Project Preparation Institute was created to ensure the development and promotion of investment projects and has already begun work on priority ideas.
“As part of assisting local entrepreneurs in obtaining funds from development funds, the Ministry has developed more than 20 business project templates. We are going to create a total of 100 templates already in the first quarter of this year,” the minister emphasized.
CentralasianLIGHT.org
February 16, 2023