Bai-Tushum Bank receives the Best Partner Bank award for high energy saving achievements

20.11.2014

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On November 19, 2014 under the egis of the European Bank for Reconstruction and Development and the European Union, the Kyrgyz Sustainable Energy Financing Facility– KyrSEFF held an award ceremony to celebrate the most successful projects with the best achievements in sustainable energy and environment preservation.

The ceremony was the first event held in Kyrgyzstan to acknowledge the best sustainable energy investment projects and a lively presentation of energy saving progress. The bilateral cooperation of KyrSEFF program with local partner financial institutions enabled to successfully roll-out the projects aimed at country’s sustainable development.

Thus, just for the period of April-October 2014, Bai-Tushum Bank financed 4 business sector projects for more than KGS 40,470,000 mln. and 93 housing sector projects for more than KGS 28,701,526 mln. At the same time, the total grant proceeds for both of these lines constituted USD 8,206. All projects were implemented with the technical support of KyrSEFF team of energy engineers, who provided free consultancy throughout project implementation.

This August, Bai-Tuhsum Bank in conjunction with Tokmok mayor’s office and KYRSEFF launched Socium project in order to provide housing to the officials of state financed organizations in Tokmok. Bai-Tushum Bank allocated a total of more than KGS 34 mln. for the soft-term financing project implementation. This project will give an opportunity for 56 families of employees, who work at state-financed institutions with low incomes as teachers, health care professionals, community workers to own a house. An important aspect of the project is that future house owners receive grants to cover 35% from the European Union under KYRSEFF facility. All houses are built using energy saving technologies. High quality and certified materials and new technologies will enable to cut heating costs and increase houses’ useful life. Socium project won an award as the Best Project in Housing Sector for energy saving and comprehensive design. Awards for successful efforts were given to Bishkek branch’s Tokmok office staff: Zarema Iriskulbekova, Roza Usenova and Meder Boobekov.

Moreover, the award The Best Housing Sector Project for the successful implementation of energy saving activities was granted to Bank’s Head Office client Gulsaira Usupova.

Bai-Tushum Bank’s Bishkek and Karakol branches were also awarded for outstanding performance in sustainable energy financing. However that was not the last of Bank’s awards.

The best 5 employees of Bai-Tushum Bank received honorary diplomas and KyrSEFF presentation cups: Alik Boronchiev (Naryn branch), Dastan Asanakunov (Karakol branch), Guldana Boronbaeva (Osh branch), Asel Asanalieva (Talas branch) and Erkin Razabaev (Jalalabad branch).

 Background information:

Bai-Tushum Bank was created in 2000 by the U.S. International Development Organization ACDI/ VOCA. On November 13, 2012, Bai-Tushum became the first microfinance organization in Central Asia to receive a full banking license from the National Bank of the Kyrgyz Republic. In 13 years the organization has become one of the largest microfinance institutions in the Kyrgyz Republic with the total assets amounting to KGS 8.1 billion. Today, the Bai-Tushum Bank is among the seven largest banks in the Kyrgyz Republic, serving more than 32,000 clients.

Kyrgyz Sustainable Energy Financing Facility (KyrSEFF) with loan portfolio of USD 20 mln. was launched in Kyrgyzstan in the end of April 2013 and has been a part of the Sustainable Energy Financing Facility (SEFF) of the European Bank for Reconstruction and Development (EBRD). KyrSEFF loans are accompanied by grants of 10 to 35 percent granted by the European Union Investment Facility for Central Asia (EU IFCA). www.kyrseff.kg

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