The State Financial Holding has financed 39 business entities with 350 million som through budget lending this year. This was reported on November 12 by Aziz Ozonov, Head of the Ministry of Finance's Regional Development Department.

Lending terms and support areas

According to the agency, loans are provided at 2% per annum for a term of up to 10 years. The maximum amount for a single loan is up to 20 million som. The "Regional Economic Development" program covers all regions of the country, except for Bishkek and Osh.

Funds are directed toward the development of various economic sectors, including:

  • tourism
  • light industry and manufacturing
  • healthcare and education
  • processing, handling, and storage of agricultural products

Program indicators

39entrepreneurs financed
350 millionamount in som
2%interest rate
10term in years
20 millionmax. loan amount

Currently, new projects totaling 580 million som are under consideration. For comparison, last year, Gosfinholding implemented more than 250 projects totaling over 1 billion som through regional development funds.

Context

Gosfinholding acts as an agent of the Ministry of Finance in the field of budget lending. The organization implements projects initiated by the Cabinet of Ministers of the Kyrgyz Republic and the Ministry of Finance. The program covers regions outside the major cities of Bishkek and Osh.