A loan product aimed at manufacturing protective equipment, medical facilities and medicines for the response to COVID-19 pandemic

Purpose:

Create a funding mechanism for enterprises in the Kyrgyz Republic for:

- manufacture of personal protective equipment (masks, respirators, protective overalls, gloves, shoe covers, etc.);

- production of medicines;

- manufacture or repair medical equipment that contribute to the prevention and elimination of the coronavirus infection(COVID-19)

Maximum limit of the loan facility for direct financing projects and Partner Banks

Equivalent of up to 3,000,000 US dollars

Loan availability period:

The period during which the Borrowers are entitled to apply for financing - until 01.10.2020

Target borrowers:

Commercial companies of various organizational and legal forms that are residents of the Kyrgyz Republic and have experience in any of the following areas:

· garment-making;

· supply and marketing of materials for light industry;

· consolidation of orders and arrangement at the facilities of the garment enterprises of the Kyrgyz Republic;

· production of hygiene articles;

· production of medicine;

· manufacture or repair of medical equipment.

Targeted loan utilization:

Funds can be allocated exclusively to:

· purchase of raw materials for the personal protective equipment production;

· purchase of raw materials for the medicines production;

· purchase of spare parts and components for the manufacture or repair of medical equipment;

· payment of logistics costs.

Refinancing component:

N/A

Currency:

Kyrgyz som/US dollars

Funding amount:

up to 1 million US dollars (equivalent in Kyrgyz soms)

Funding terms:

up to 24 months

Exemption period for the loan principal repayment

up to 6 months

Interest rate for the final beneficiary in Kyrgyz soms:

no more than 9% per annum

Interest rate for the final beneficiary in US dollars:

no more than 5% per annum

Collateral security:

In accordance with the requirements of Commercial Banks-Partners of the RKDF

The terms of SMEs target-oriented funding through Commercial Banks (not directly regulated by this Product) are governed by the RKDF Regulations "On targeted funding of Commercial Banks by the Russian-Kyrgyz Development Fund" and the RKDF "Lending to small and medium-sized businesses through commercial banks" Program.