The implementation of the support program for the sewing business through preferential loans continues in Kyrgyzstan. This was reported by the Minister of Economy and Commerce Bakyt Sydykov on the air of Birinchi Radio on March 25.
According to the minister, funds are allocated through two state banks, and the total amount is already close to 1 billion soms.
Sydykov pointed out that loans are primarily granted to companies that operate legally. However, enterprises that do not have a complete set of documents face certain difficulties in the process of obtaining financing.
"Today, loans are available only to those who are registered and pay taxes, complying with all requirements. Those who operate in the informal sector experience difficulties," he explained.
Moreover, companies with "zero" reporting also encounter problems, as they lack the necessary declarations and supporting documents.
Currently, the issue of finding solutions to these problems is being discussed in collaboration with banking institutions. A meeting is planned in the coming days to develop possible solutions.
Sydykov noted that banks operate based on citizens' deposits, so transparency of borrowers is extremely important for them. Requirements for collateral remain, but options for simplifying lending within the framework of current legislation are being considered.
The minister also emphasized that to receive state support, entrepreneurs must conduct their activities legally, have registration, and all necessary permits.
