“Kumtor” helps to develop the Issyk-kul region through the micro crediting program

published: 03 June 2014

«Balykchi Finance» distributed loans more than 12 million soms this year

In the framework of microcrediting program for the population of Issyk-kul region “Balykchi Finance” distributed more than 12 million soms loans. Nurgul Kalieva, chief accountant, financial manager of “Balykchi Finance” informed on Monday.
“Currently the loans portfolio grows. For the 5 months, we gave out to population loans in the size of 12 million soms. This year the loans portfolio will be around 25 million soms, before the sum was 19 million soms” – stated Kalieva
Thus, the loans portfolio increased to 31% compared to last year. According to her loans, return rate is approximately 97%.
“Among 220 clients, maybe five can be default borrowers. Mainly loans given for purposes of tourism, cattle breeding, harvesting and establishing private businesses” – noted Kalieva.
Director of Dental center “Datka Stom” Rysbek Ajikov took the loan last year at “Balykchi Finance” in the size of 200 thousand soms to acquire necessary equipment for the dental office.
“I used to work in Bishkek, then I returned to my hometown Balykchi and launched here a dental clinic. Loans with minimum interested rates only at “Balykchi Finance”, in other banks rates are from 25 up to 30% annual. That is why I turned to this micro credit agency. I bought dental equipment using the provided means.” – told Ajikov
Rysbek Ajikov noted that he intends to extend his center and apply once again to “Balykchi Finance” to take a loan.
Media Relations of “Kumtor Gold Company” informs that “Jety Oguz Finance”, “Ton Finance” and “Balykchi Finance” were given 750 thousand US dollars to support the program of micro crediting population of Issyk-kul region.
It is important to note that program of micro crediting is carried out in the region form 2006 and directed to social and economic development of Issyk-kul region. With the support of the company three micro credit agencies were established, which provide the lowest interest rate in Kyrgyzstan from 10 to 12% annual.
This program allows all residents of Jety-Oguz and Ton districts and Balykchi town interested to receive a loan acquired an opportunity to develop agricultural business, small and medium size enterprises.
From 2006 the company invested to the program of micro crediting more that 3 million US dollars, combined with financing of 2014, total volume of investments will be 3 million 910 thousand US dollars.

Each tailor of Balykchi sewing shop daily sends to Moscow up to 60 kids outfit

Manufacturing engineer of the sewing shop Raya Jakypova informed journalists.
“Our sewing shop opened in September of last year, 19 persons are employed here, and 17 of them are tailors. We manufacture only kid’s outfit. We receive orders from Bishkek to export to Moscow. We send approximately 1000 pieces of outfit weekly.”- informs R. Jakypova.
According to her words, salary of an employee is 10 to 12 thousand soms a month.
“We did not have sufficient money resources to launch a sewing shop so we took a loan at Balykchi Finance for the term of one and half year in the size of 190 thousand soms.”- said the engineer

“Ton Finance” gave out loans for 22 million soms this year

Director of the agency Zamirbek Eshmambetov told journalists. “Micro credit agency Ton Finance in 5 months of 2014 gave out loans to 92 clients in the size of around 21 million 800 thousand soms. Presently we have 247 active customers out of 322. Loans return rate is 100 percent.”- said Eshmambetov.
By his data the loans portfolio makes up 47 million soms.
“From 2011 micro credit agency is active to support the development of small business, creating jobs. During this period Kumtor issued 6 grants for total sum of 56 million 820 thousand soms” – he notes.
Z. Eshmambetov emphasized that main part of loans is given for income generating activities, particularly cattle breeding.
Individual entrepreneur Japarkul Kaseev three years ago took a loan in the size of 450 thousand soms with 12% interest rate for establishing production of bricks and paving blocks.
“We produce bricks, paving blocks and curbs. We sell 1-quarter meter for 380-440 soms, in Bishkek the price is the same. Delivery requires certain expenses; therefore, it is much more comfortable to buy these products at the spot. Materials are of high quality, we never get any complaints” – says J. Kaseev.

In Kadji-Sai village, Kumtor funds help to restore Recreation Park, which was abandoned 20 years ago

The chairperson of youth council of Kadji-Sai village management Rustam Omurov told reporters.
“Before the collapse of the Soviet Union Kadji-Sai used to have a good park with sports ground and amusement playground. After breakdown of USSR, the park was destroyed since then the land total of 5 hectares was abandoned for 20 years. Today we work on restoration of this park; we set fences, lightning and build tennis court and playground.” – says Omurov.
He also informed that 1000 poplars and 30 pine trees are planted.
“Kumtor provided materials for total of 756 thousand soms. If the park starts working again, it will generate the revenue of 3 million soms a year.”- says the youth activist.
He added that the youth is planning to set up a garden of fruit trees, next year 3 thousand fruit trees will be planted.

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