KYRGYZSTAN
Financing granted
Loan of €188 000 *
(Equivalent in local currency)
Partner of the Foundation
since 2017
(2 loans granted)
*Outstanding at grant value
Partner website
Context:
Agriculture remains a vital part of Kyrgyzstan’s economy and a refuge for industrial workers. It accounts for more than 38% of the country’s GDP. 25% of population live below the poverty line.
The Institution:
The FMFC is a Tier 2 microfinance institution that was created in 2006 by the Aga Khan Agency for Microfinance (AKAM), an agency of the Aga Khan Development Network (AKDN) to improve quality of life for people by helping them increase their income and access the national financial market.
Impact:
FMFC serves 18,560 active borrowers (46% women and 88% in rural areas) and manages a portfolio of €15.2 million. It operates mainly in the South-East (Osh, Jalalabad, Kabyk), Centre (Naryn) and North (Bishkek) of the country through a network of 14 branches and 227 employees.
