Signing the agreement between CJSC Bank of Asia and OJSC "Guarantee Fund"

On Friday, 28 October, "Bank of Asia" CJSC signed an agreement with OJSC "Guarantee Fund". Development and support to small and medium-sized businesses is the primary objective of our country. At the same time the development of SMEs requires access to "long" and cheap loans. But because of the underdeveloped real estate market in the regions of the country entrepreneurs of small and medium businesses have difficulties in obtaining loans.

OJSC "Guarantee Fund" has been established to promote SME lending and is one of the basic organizations supporting them. The main objective of the Guarantee Fund is to provide entrepreneurs with guarantees for bank loans, leasing contracts in case of insufficient collateral.

Entrepreneurs may initially contact "Bank of Asia" CJSC and, in case of insufficient collateral to obtain the required loan amount, contact OJSC "Guarantee Fund" for the guarantee. To date, the Fund will cover up to 30% of collateral.

"Bank of Asia" CJSC and OJSC "Guarantee Fund" will jointly promote the development and prosperity of small and medium-sized businesses in Kyrgyzstan.