OSCE Osh office helps improve access to credit for rural residents

OSH, Kyrgyzstan, 9 February 2006 - Better access to loans for rural residents will be the focus of a meeting tomorrow supported by the OSCE Osh Field Office.

The event, initiated by the Osh Province governor, will bring together government and local officials, representatives of banks and credit institutions, as well as experts from international and regional organizations.

"Although credit institutions have been quite active in the south of Kyrgyzstan in recent years, rural residents have had difficulties getting loans," said Jerome Bouyjou, Head of the OSCE Osh Field Office.

"Discussions about credit resources will undoubtedly contribute to the economic development and welfare of Osh Province residents. This meeting will offer valuable and concrete recommendations."

The governor of the Osh Province, Adam Zakirov, added:

"By addressing this important issue, we hope to improve this imbalance and provide more economic opportunities for business initiatives by rural residents."

Recent recommendations from a working group of experts from the Kyrgyz President's Administration, the country's National Bank, other state agencies and credit institutions included: making government policy on credits more flexible, using best practices of micro-credit policy in rural areas and assessing existing laws affecting access to credit resources.