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Triple Jump and Bai Tushum are proud to announce the participation of Triple Jump in the capital of Bai Tushum Kyrgyzstan.
Bai Tushum and Triple Jump began cooperating in April 2008, when Triple Jump provided its first loan to Bai Tushum, closely followed by a second loan in May. These loans allowed Bai Tushum to finance small and medium sized businesses in Kyrgyzstan, helping contribute to business development and job creation. After working together for just one year, in April 2009 Triple Jump purchased shares in Bai Tushum through its ASN-Novib Fund. Triple Jump is the first foreign company to invest in the capital of Bai Tushum, and will be sharing in the governance of the institution through its position on the Supervisory Board. According to Triple Jump, “the decision to invest in the capital of Bai Tushum was based on a thorough on-site due diligence and assessment of the company. The key strengths of BT are that it has a good rural network and offers tailor-made financial services to small-sized enterprises. Triple Jump is pleased to share in the capital of this strong and well-managed institution.” “Bai Tushum and Partners” company is one of the leading microcredit companies in Kyrgyzstan, accounting for 26% of the country’s microfinance market in terms of loans outstanding, combining stable growth with good profits. Bai Tushum Company also cooperates with a number of other foreign investors, including the International Financial Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), Blue Orchard S.A., Symbiotics S.A., Oikocredit and the Hivos-Triodos Fonds. Based in Amsterdam, Triple Jump’s mission is to contribute to the sustainable development of emerging market economies by facilitating investment in micro and small enterprises. Triple Jump seeks to support the expansion of viable microfinance institutions in all three stages of their development (emerging, expanding and mature) by providing both capital and advisory services.
ASN Bank is the Netherland’s largest social and ethical bank. The ASN-Novib is a retail fund established by the ASN Bank in cooperation with Oxfam Novib, the Netherlands member of the Oxfam Network. |
