Bai-Tushum & Partners Company acted as one of the sponsors of the Central Asian Microfinance Summit held under the patronage of the President of Kyrgyzstan

11.07.2011

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On July 7-8 2011, the Central Asian Microfinance summit was held in Kyrgyzstan. The Company acted as one of the sponsors of the Summit. Consultants, practitioners, investors, donors and microfinance institutions in Kyrgyzstan, Tajikistan, Russia, Mongolia, Kazakhstan, Belarus, USA and other countries in Europe took an active part in the Summit. The President of the Kyrgyz Republic Office, National Bank of the Kyrgyz Republic, Association of the Microfinance Institutions and Czech company Uniglobal acted as organizers of the Summit.

The Summit was dedicated to the exchange of successful experience of microfinance in the region, attracting the attention of internal and external donors to implement and increase the volume of microfinance in the Kyrgyz Republic. The Summit raised topical issues for discussion: the economic and social objectives for microfinance, investment vehicles, currency hedging in illiquid and changing markets, improving financial literacy of the population, socially responsible financing, as well as implementation of technological and other innovations in lending.

It should be noted that in the framework of the Central Asian Microfinance Summit the European Bank for Reconstruction and Development and CJSC MFC Bai-Tushum and Partners signed a loan agreement, under which the EBRD provided a loan to the Company amounting KGS 270 million (about USD 6 million.).