The Guarantee Fund has helped create more than 7,000 jobs in Kyrgyzstan

Over the past ten years, guarantee instruments have helped create more than 7,000 new jobs in Kyrgyzstan. An additional 42,000 existing jobs received support, First Deputy Prime Minister Daniyar Amangeldiev reported at an international conference marking the 10th anniversary of the Guarantee Fund.

According to him, during this period, the fund issued approximately 23,000 guarantees totaling 22.5 billion KGS. With their help, entrepreneurs gained access to loans totaling approximately 66 billion KGS.

“Behind each of these billions are businesses that were able to purchase equipment, expand production, and launch new ventures,” said Amangeldiev.

A guarantee helps an entrepreneur obtain a loan if they do not have sufficient collateral of their own. As the Deputy Prime Minister noted, when the first guarantee mechanisms were established, about 40–50% of potential borrowers from banks and microfinance organizations faced a lack of collateral.