During the president's meeting with residents of Tokmok, Chui, and Kemin districts on November 7, the entrepreneur spoke about the difficulties in launching her business. According to her, construction of the enterprise building in Kemin began in 2021, and by 2023, the facility was fully built. However, full-scale production has not yet started due to a lack of funds for interior renovation and the purchase of necessary equipment.
The problem of collateral and banking terms
The entrepreneur noted that appeals to government agencies yielded no results, as the issue stems from banking regulations. High collateral requirements prevent access to concessional loans, forcing entrepreneurs to turn to private banks where interest rates are significantly higher.
In response, authorities explained that collateral is a mandatory requirement for issuing large sums to protect state funds. According to available data, the applicant's collateral is insufficient to cover the required volume of financing, and obtaining a small loan will not solve the problem of launching the enterprise.
Support measures for farmers
Despite the difficulties with collateral, changes in lending terms were announced as part of livestock support. Specifically, provisions include increasing limits for unsecured loans and reducing interest rates.
Changes in lending terms
Context
The event took place during a meeting of Kyrgyzstan's President Sadyr Japarov with residents of the Chui region. The entrepreneur represents the interests of the dairy processing sector in the Kemin district.
