The Islamic Corporation for the Development of the Private Sector and Government of Kyrgyzstan will establish a leasing company based on the principles of Islamic financing with a registered capital of $10 million , this was announced during the working visit of Deputy Prime Minister Tayirbek Sarpashev to Saudi Arabia, the press center of the Government reported. The leasing company will allow peasants and farmers in Kyrgyzstan to get access not only to the acquisition of agricultural equipments on favorable terms, but also access to the leasing of the equipments for processing of agricultural products. During the working visit, Sarpashev met with Director General of the Islamic Corporation for the Development of the Private Sector Khaled Mohammed Al-Aboodi . The sides discussed the possibility of providing credit lines for the support of the small and medium-sized businesses in Kyrgyzstan , as well as the question of granting credit lines for micro crediting with reduced interest rate. As a result, the sides agreed on that the Corporation will provide the credit lines for $5 million to the state banks of Kyrgyzstan for the support of small and middle businesses. The credit lines will allow the businessmen of Kyrgyzstan to get an access to the medium-term financing for 3-5 years, which in its turn will fund projects in the field of production.
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