New business support program launched in Kyrgyzstan's regions

Kyrgyzstan has initiated a new project, "Economic Development of the Regions of the Kyrgyz Republic," designed to bolster entrepreneurs and foster business growth across the nation's regions. The State Financial Holding JSC, in collaboration with the Ministry of Finance, is spearheading this initiative.

The program is open to individual entrepreneurs, legal entities, and startups, providing financial support for ventures in key sectors such as tourism, light industry, manufacturing, healthcare, education, energy, and agricultural processing. This initiative aims to stimulate economic activity and create new opportunities outside the capital.

Eligible businesses can secure loans on preferential terms, featuring an annual interest rate of just 2 percent. The loan amounts can extend up to 20 million Kyrgyz soms, with repayment periods of up to 10 years. A significant benefit includes a grace period of up to 12 months for principal repayment, offering businesses crucial breathing room.

Organizers stated that the program's primary objectives include cultivating entrepreneurship in the regions, generating new employment opportunities, attracting investment, and broadening businesses' access to essential financing. This effort is expected to contribute to a more balanced and robust economic landscape throughout Kyrgyzstan.