“I have a lot of customers at my shop who are in a difficult situation. I try to help them as I can; I counsel them about FINCA loans, and help them create their own FINCA solidarity groups. Many of them have received FINCA loans on my recommendation and have been able to start a new life as a result. I would not have this success without FINCA.”
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Facts about Kyrgyzstan
Kyrgyzstan is a poor country. Though agriculture employs nearly half the population, it accounts for only one-fifth of the economy. Kyrgyzstan’s economy still hasn’t recovered from the overthrow of President Bakiev in 2010 and the subsequent ethnic conflict that caused many deaths and destroyed much of the country’s infrastructure.
Since it opened in 1995, FINCA Kyrgyzstan has been one of FINCA’s fastest growing and best-performing subsidiaries. In 2003, it became the first formal financial institution for low-income entrepreneurs in the region, serving almost 120,000 clients throughout 24 urban and rural locations across all seven of the country’s regions. Since March 2015 FINCA Kyrgyzstan has become a fully licensed banking institution, offering a wider variety of financial services including group-based and individual loans, SME and agricultural loans, money transfers services, savings and insurance.
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