OREANDA-NEWS. April 11, 2012. Bai-Tushum and Partners Company, IBC member, with the support of the KIVA Foundation has funded the projects of socially vulnerable population for an amount exceeding 1 million US dollars.  From July 2010, the KIVA project has covered more than 600 people – those who have low incomes and are engaged into entrepreneurship in rural areas. The loans for this category of clients are provided under preferential interest rate, reported the press-centre of IBC.

The special focus of activities of Bai-Tushum and Partners Company is the support for women entrepreneurs in the regions. In January 2012, the Company’s management made a decision to focus the KIVA project on financing women’s businesses.

“I would like to stress that our Company is one of the first microfinance institutions in Kyrgyzstan to join in 2010 the KIVA social initiative. The initiative aims to support people with low incomes. Being a socially oriented Company, we realize the importance of such projects. That is why in the past year we introduced a new product “Aiylkurulush”, which is aimed at funding rural dwelling construction. This product is unique in the market and is popular among population in the regions”, Nurgul Torobaeva, the Deputy General Manager, said.

Bazarbek uulu Boobek, the Senior Loan Officer of the Karabuura region, noted: “The majority of the population we work with in the regions are doctors, teachers, and single mothers, people who became unemployed and have to start their business to maintain their families. And with the help of the KIVA Foundation we help them in this. The clients are thankful to our Company for an opportunity to participate in this project and get a preferential interest rate”.

KIVA Foundation is an Internet platform, uniting people for the purposes of lending to socially vulnerable population worldwide and contributing to global activities to overcome poverty. Kiva Foundation cooperates with 144 Microfinance institutions in 60 countries worldwide.