Entrepreneurship financing program approved

President of the Kyrgyz Republic Sooronbai Jeenbekov spoke about the support of the real sector of the economy during the pandemic in an interview with Birinchi Radio.

The President announced a great deal of work to support entrepreneurship, emphasizing that a special program "Financing of Entrepreneurship Entities" was approved. The total amount of its financing is planned to be at least 14 billion soms.

“These are only plans for 2020, for the initial stage. In 2021, we will increase this amount to 40 billion soms. On this issue we are working with the relevant financial institutions. We will also raise funds from there. As a part of the program, the Ministry of Finance provided 2.2 billion soms to commercial banks,” the President stressed.

Special attention will be paid to the development of tourism, light and pharmaceutical industries, the transport of goods, manufacturing and processing enterprises.

“We will use these funds to create jobs, especially for exporting companies and enterprises that are engaged in import substitution,” said Jeenbekov.

External sources of financing will be attracted to help the government, and a fund to support entrepreneurs will be formed.