The Bank financed projects for over 68 million som under the KIVA project

30.01.2013

kivaloans

The special direction of the Bank’s social mission implementation is supporting women entrepreneurs in the regions under the social project KIVA. In 2012 with the support of KIVA Fund, the Bank financed projects of more than 900 women entrepreneurs from the regions of Kyrgyzstan for a total of 68.7 million som. Compared with 2011, the growth of loan portfolio was 220%. Only in December 2012, 129 clients were financed for a total of 10.09 million som.

“In 2013 it is planning to join efforts to support women within the framework of Kiva project with Women’s Leadership in Small and Medium Enterprises program, which ACDI/VOCA and Bai-Tushum and Partners will implement to promote the growth of women-owned businesses in the Kyrgyz Republic.

In addition, further work is planned to expand the credit line of Kiva products, in particular, “Green loan” product. “Green loan” involves finance for environmental projects that help to reduce energy costs, minimize waste and pollution of environment”, – said Head of Business Development department Anara Bayjumanova

It should be noted that “Bai-Tushum & Partners” is one of the first microfinance institutions in the Kyrgyz Republic, which in 2010 joined Kiva social project, which is aimed to support people with low income.

Reference information: Kiva Foundation is an online platform that connects people with the purpose of lending to vulnerable social group around the world and contributing to global efforts to alleviate poverty. Kiva Foundation cooperates with 144 microfinance institutions in 60 countries.