Performance results of “Bai-Tushum and Partners” Company for 2011
In 2011 “Bai-Tushum and Partners” Company continued providing funding to the people living in rural areas, involved into entrepreneur activities in the regions. Thus, in 12 months of 2011 CJSC MFC “Bai-Tushum and Partners” disbursed loans for an amount exceeding 2.61 bn. KGS, the growth of loan portfolio for this period constituted 41%, and for more than 11 years of operation the Company disbursed loans for an amount exceeding 9.7 bn. KGS. The share of clients, residing in rural areas for the past year constituted 82.2%.
An important line of activities of the Company is support of women entrepreneurs in the regions. Thus, the share of women in the Company’s portfolio is 44%. In 2010 the Company introduced a special project KIVA for funding women’s business initiatives under preferential interest rate. During 18 months more than 600 people were covered, more than 1 mln. US dollars were disbursed under this project.
Currently “Bai-Tushum and Partners” company find itself among the three major microfinance institutions of the country covering more than 20% of microlending market. For more than 11 years the Company promotes development of agriculture, growth of small and medium business, increase of employment level and incomes in our country. Thus, each 700 US dollars invested ensure self-employment of the Company’s clients.
The priority areas of lending for the Company are agriculture, development of trade and services, as well as production. As of 31 December 2011 the share of loans disbursed for agriculture constituted 35%, while 44% were disbursed for trade.
CJSC MFC “Bai-Tushum and Partners” is one of few financial institutions of the country which, with a view to support agricultural sector, provides agricultural machinery under leasing conditions. In 2011 the Company provided machinery for an amount of more than 15 mln. KGS under preferential interest rates.
The General Manager of CJSC MFC “Bai-Tushum and Partners”, Gulnara Shamshieva emphasized: “Development and support of affordable leasing projects is a priority task for us in 2012. Today the agricultural machinery in the regions is outdated from both moral and physical standpoint that is why farmers lose the major part of the crops they harvest. Understanding the importance of this issue for the economy of Kyrgyzstan, “Bai-Tushum” Financial Group, which includes MCA Financial Fund “Bai-Tushum” and CJSC MFC “Bai-Tushum and Partners”, past year launched a new project for financing agricultural machinery under preferential conditions. This year we are planning to expand the number of participants of this project”.