The Kyrgyz Republic’s economy depends heavily on agriculture including the fishing industry. Issyk-Kul, the second largest alpine lake in the world, is famous for its natural beauty and azure waters, but not its productivity. Years of overfishing have decimated Issyk- Kul’s fisheries and much of the smoked fish sold in the surrounding cities comes from other alpine lakes.
Following the collapse of the Soviet Union, many local fish farms and factories were closed down because of their outdated equipment and lack of financing. While some were privatized, few fish factories could adjust to the new market conditions.
Esen Alamanov, the founder of a fish farm in the city of Karakol at the Southern end of Issyk-Kul, rented 75 hectares of lake area and reservoirs in which to install cages for the cultivation of fish. Since 2000, the farm has cultivated and reared whitefish, trout, pellets, Amur carp and carp. But for truly sustainable development, Karakol Balygy Fish Farm needed additional equipment. At this point Bai-Tushum and Partners Microfinance Company got involved with the business. Through a 3500 US dollars long term leasing contract on favorable terms, Alamanov was able to buy 10 pools for young fish and five incubation units. The additional work at the farm created 16 jobs and helped increase profits considerably.
“Over time, the numbers turned positive,” recalls Esen Alamanov.The two largest fish retailers in the region found that the quality of our products satisfied all the environmental standards and one of them signed a contract to buy 2-3 tons of fish a year. I am very grateful to Bai-Tushum and Partners for supporting domestic fish producers.”
