The government proposes to resume preferential business lending

Kyrgyzstan’s government, together with the National Bank, is ready to resume concessional lending programs for entrepreneurs from November 2020.

It is necessary to unite efforts for the further functioning and development of the banking sector and financial market in Kyrgyzstan, First Deputy Prime Minister of the Kyrgyz Republic Artem Novikov said at a meeting with representatives of the banking sector on October 22.

“The analysis showed that the current situation did not undermine people's confidence in the banking system, and there is no large outflow of the deposit base in commercial banks. I think that the population sees the efforts that the government is making and I hope there will not be any drastic changes,” he said.

Novikov asked the heads of commercial banks to step up work on lending to entrepreneurs and introducing digital technologies to improve the quality of customer service.