Bailyk Finance – Kyrgyz Republic
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.In 2017, LMDF added a new country to its portfolio: Kyrgyzstan. It is a very poor mountainous country between China, Kazakhstan, Tajikistan and Uzbekistan where most of the population is active in the sectors of agriculture and livestock.
Bailyk Finance was created in 2011 to reach micro and small entrepreneurs, mainly living in rural areas, mostly women (62%). Currently the MFI has 11,321 clients with average disbursed loans of EUR 657. More than 80% of the portfolio finances income-generating activities (29% are dedicated to agriculture).
The institution implemented a solid methodology and its credit risk is well controlled. This results in a strong impact on financial inclusion in its areas of operation. Bailyk has developed at the same time, a habitat product to support customers in improving their living conditions.
Bailyk Finance operates in 4 of the 7 provinces of Kyrgyzstan, through a network of 17 branches (data as at end of August 2017). Bailyk’s head office is located in Bishkek, while the rest of the agencies are out of capital in rural areas. In these agencies, they offer a range of credit products that cover the financing needs of an underserved population. They also offer several courses on an annual basis: financing of agriculture, financial education and green finance.
