Archive photo.

From the very beginning of its functioning, Alliance Altyn pays special attention to supporting the socio-economic development of Talas oblast, and takes a direct part in almost all socially significant and celebratory events in the region.

In particular, the company regularly carries out numerous campaigns to support low-income and socially vulnerable segments of the population, individuals and centers with disabilities. Every year, in cooperation with local authorities, they arrange celebrations for local residents on such holidays as International Women's Day on March 8, Nooruz, Victory Day on May 9, Independence Day of the Kyrgyz Republic and many others. All possible assistance is provided to support and develop the fields of education, health, culture, creativity and sports, as well as to hold certain events at the national and international levels.

In addition, in June 2016, an agreement on assistance in the socio-economic development of Talas region was signed with the Plenipotentiary Representative Office of the Government of the Kyrgyz Republic in Talas region, according to which Alliance Altyn LLC established the Bakubat Talas Welfare Fund in order to implement various projects in the social and economic areas, as well as to enhance the financial and technical base and support the activities of education, health, welfare, culture, and sports institutions, law enforcement agencies, local self-government institutions and local state administrations.

The Fund's budget is formed from the investments of Alliance Altyn LLC in the following amount:

- in the first three years – 100 million KGS annually;

- in the following years – 150 million KGS annually.

In the period from August 31, 2015, the date when the license for the right to develop the Jeruy deposit was officially obtained, to the present day, 200 million KGS have been financed, including:

• the first tranche of 100 million KGS – 26.08.2016;

• the second tranche of 100 million KGS – 28.08.2017.  

Under the Agreement, these investments are earmarked and distributed as follows:

•  70 % (70 million KGS) – for lending to small and medium-sized business (SMB) projects and agricultural development

•   30 % (30 million KGS) – for social projects (by decisions of the Supervisory Board, made on the basis of consideration of applications from local residents, as well as organizations and institutions of Talas Oblast)

Lending

After receiving the first tranche in 2016, a competition was held among banks to create the best conditions for lending to the population of Talas region, according to the results of which JSCB Kyrgyzstan, which provided the most favorable conditions, was declared the winner. A relevant agreement was duly signed with the JSCB Kyrgyzstan, according to which the bank lends 70 % of the money from the first tranche at 8 % per annum.

In total, loans were issued to 260 residents of the oblast for a total amount of 70 million KGS.                         

They were distributed as follows:        

•  for lending to SMB projects – 37 million 470 thousand KGS (55 people)    

•  for the development of agriculture – 32 million 530 thousand KGS (205 people.)      

For the second tranche in 2017, the competition was held again, which resulted in the winner being the Kyrgyz Investment and Credit Bank CJSC, with which an agreement was duly signed. According to this agreement CJSC Kyrgyz Investment and Credit Bank is lending 70 % of the money from the second tranche at 8 % per annum.

In total, as of 31.03.2018, loans were issued to 120 residents of the Talas region for a total amount of 48 million 542 thousand KGS.  тыс. сом.            

They were distributed as follows:        

•  for lending to SMB projects – 31 million 562 thousand KGS (18 people)   

•  for the development of agriculture – 16 million 980 thousand KGS (112 people)               

Implementation of social projects

30 million KGS from each tranche are distributed on the basis of applications and appeals of residents, enterprises and institutions of Talas oblast by the Supervisory Board (SB) of the Fund, which consists of representatives from all districts of the oblast, Talas city and Bekmoldo aiyl aimak, represented by the district state administrations in coordination with the deputies of local keneshes.

Total for the period from 2016 to 31.03.2018:

•  Meetings of the Supervisory Board held – 12.   

•  Applications and appeals considered – 371.

•   Projects approved – 117.

•   The total amount of approved projects is 49,567,424 KGS.

Of these:

•  Projects implemented – 88.

•  The total amount of fully implemented projects is 37,639,536 KGS.

•  29 projects have been approved and accepted for implementation.

•  The total amount of projects under implementation is 11,927,888 KGS.