Kumtor allocates 750 thousand USD for micro-crediting development in Issyk-Kul region

published: 15 May 2014

Kumtor Gold Company CJSC (Kumtor) transferred 750 thousand US dollars to micro-credit agencies “Jety-Oguz Finance”, “Ton Finance” and “Balykchy Finance” to support micro-crediting programs of Issyk-Kul region.
By the given program, all interested persons in receiving financial means residing in Jety-Oguz and Ton areas and also Balykchy are granted an opportunity to develop agricultural business, cattle breeding, establish and support small and medium business.
Since 2006, the Company invested more than 3 million US dollars in the microcredit program. Inclusive of 2014 financing round, total volume of investments compose 3 million 910 thousand million US dollars.
For reference
The program of micro credit financing of farmers and small entrepreneurs of the region is carried our since 2006 and directed for social and economic development of the Issyk-Kul region. With the support of the Company, three micro credit agencies were established, providing the lowest interest rate in Kyrgyzstan – from 10% to 12%.