According to Nurbek Umetaliev, head of the entrepreneurship development department of the Ministry of Economy and Commerce, 300 million soms from this amount will be used to subsidize banks' costs. This means that the government will compensate the difference between the actual rate, which can reach 12-15%, and the established preferential rate of 6-9%.
“The allocated funds will be effective for one year, and the loan term will range from one to five years. The program will cover all regions of the country: 60% of the allocated funds will be directed to the districts, and 40% to Bishkek and Osh,” he noted.
Umetaliev also emphasized that the maximum loan amount has been increased. Previously, entrepreneurs could expect an amount within 10-15 million soms, but now the limit has risen to 50 million soms, provided there is justification and a need for such funds.
He added that loans will be available through both state and private commercial banks. Entrepreneurs will be able to obtain additional information about this program.
