EBRD Extends Loans to Kyrgyz Micro-Finance Bank Bai Tushum
Wednesday 14 November 2012
(MicroCapital.org) – Bai Tushum, a microfinance institution (MFI) based in Kyrgyz Republic, was extended an EBRD loan worth the local currency equivalent of US $4 million to support lending to micro-, small and medium-sized enterprises (MSMEs) nationwide.
Gulnara Shamshieva, general manager of Bai Tushum, reportedly stated that the proceeds will be used to “expand [Bai Tushum’s] lending programmes for the development of [MSMEs] in the Kyrgyz Republic, including those engaged in agribusiness sector.”
As of 2011, Bai Tushum reported total assets of $86.1 million, a gross loan portfolio of $55 million to approximately 35,400 active borrowers, return on equity of 16.1%, return on assets of 3.4% and $109,000 in deposits. Bai Tushum is also the first microfinance company in Central Asia to become a bank as reported by MicroCapital.
EBRD provides loans, debt securities, equity investments, guarantees and technical assistance to MSMEs via commercial banks and MFIs in 29 countries in Eastern Europe, Central Asia and the Southern and Eastern Mediterranean region. In 2011, EBRD disbursed a total of €6.7 bln (US $8.3 bln).