Bai Tushum Bank – reliable partner of KIVA Foundation in Kyrgyzstan


Bai Tushum Bank is the only Partner of Kiva Foundation among financial lending institutions in Kyrgyzstan for more than 6 years.

Cooperation agreement between Kiva Foundation and the Bank was signed in June 2010. During this long period about 6500 clients were funded for the total amount of more than USD 8.6 million, which composes 1% of total funding among Kiva Foundation’s 300 partner financial lending institutions around the world!

In terms of credit limit Bai Tushum Bank is one of seven largest Partners of Kiva Foundation around the world. The Bank was awarded 6 out of 7 social performance badges and 5.5 out of 6 stars, testifying the high loan repayment. These facts as well as the fact that projects are still highly demanded among private investors of Kiva Foundation, testify impeccable reputation of Bai Tushum Bank, success and sustainability of the project.

Kiva Foundation’s volunteer, Priya Singh, started to work in Head office of “Bai Tushum” Bank.

Priya Singh about her goals, impressions from meetings with Bank’s clients on KIVA line and about Kyrgyzstan in general.

– Priya, Please tell us where’re you from?

Priya: I am from New Zealand, I work in Deloitte – one of the top four audit companies that provide services in consulting and audit. I came to Kyrgyzstan as a volunteer of KIVA foundation, and took a long-term vacation at work. I love my job in financial consulting, and I’m also happy with the opportunity to work with Bai Tushum Bank.

– Is this your first visit to Kyrgyzstan?

Priya: Yes, this is my first visit. I am very impressed. Kyrgyzstan is a very beautiful country. Your mountains and lakes are among the most beautiful I have ever seen. I think the beauty of Kyrgyzstan is that so many parts of the country are still untouched unlike lots of other countries with mountains that have hotels and roads everywhere. I also would like to note that Kyrgyzstan is more progressive than a lot of countries when it comes to women rights, interests and career opportunities.

– Why did you decide to become a KIVA fellow?

Priya: I have been a Kiva lender for four years because I really believe in the power of microfinance. There are many parts of the world where people are excluded from financial services for various reasons: no credit history, no collateral, no education, etc. KIVA plays a very important role in connecting lenders in developed countries to borrowers, by providing big opportunities to small entrepreneurs. I decided to be a Kiva Fellow because I think my skills in financial services can add real value to KIVA and also to see first-hand the impact of KIVA on people’s lives.

– How do you think what is a KIVA project for Kyrgyz people?

Priya: The emphasis in financing is placed primarily on the socially vulnerable population: public employees, mothers of large families and the rural population. Mostly women, for whom such loans give opportunity to provide their families, support and educate their children, are financed. Such soft products as “Start up business” and “Force Majeure” are most attractive to customers. It should be noted that the bonus in the form of return of 5% per annum of the loan amount is a significant help for our clients. In my opinion the best indicator of KIVA products usefulness for clients is their re-application, and attractive interest rate and bonus in case of timely return is a good incentive.