The implementation of the support program for sewing entrepreneurs through preferential lending continues in Kyrgyzstan. This was reported on March 25 in an interview on Birinchi Radio by Bakyt Sydykov, the Minister of Economy and Commerce of the country.
According to him, financing is provided by two state banks, and the amount of allocated funds is close to 1 billion soms.
Sydykov emphasized that loans are primarily available to companies that operate legally. Enterprises lacking a complete set of documents face difficulties when trying to obtain financing.
"Preferential loans are available only to those who are registered, pay taxes, and comply with all regulations. Entrepreneurs operating in the informal sector encounter problems," the minister noted.
Additionally, he added that companies with "zero" reporting also face challenges due to the lack of necessary declarations and supporting documents.
This issue is currently being actively discussed with banks, and a meeting is scheduled in the coming days to seek possible solutions.
Sydykov also noted that since banks operate with public funds, transparency of borrowers is critically important for them. Requirements for collateral remain, but options for simplifying lending conditions within the existing legislation are being considered.
The minister reminded that for entrepreneurs to receive government support, they must conduct official activities, have registration, and all necessary permits.
