The implementation of the preferential lending program to support the textile sector continues in Kyrgyzstan, as reported by the Minister of Economy and Commerce Bakyt Sydykov on March 25 during a broadcast on Birinchi Radio.
According to him, financing is provided through two state banks and is already nearing the mark of 1 billion soms.
Sydykov noted that loans are mainly received by companies operating in accordance with the law. Those enterprises that do not have a complete set of necessary documents face difficulties in obtaining financial assistance.
“Loans are available only for those who are officially registered, pay taxes, and comply with all established requirements. Entrepreneurs working in the informal sector experience challenges,” the minister clarified.
Additionally, companies with "zero" reporting also encounter problems, as they lack the necessary declarations and supporting documents.
Currently, the issue of assisting enterprises with insufficient documentation is being discussed in cooperation with banks, and a meeting is planned to find possible solutions.
Sydykov also noted that banks use depositors' funds, and therefore transparency of borrowers is important to them. Despite the existing requirements for collateral, options for simplifying lending conditions within the framework of current legislation are being considered.
The minister reminded that to receive state support, entrepreneurs must be officially registered and have all the necessary permits to conduct business.
