Kyrgyzstan > MCC Mol Bulak Finance LLC

About the Field Partner

Field Partner:	MCC Mol Bulak Finance LLC
Field Partner Risk Rating:	(Learn more)
Time On Kiva:	5 months
Kiva Entrepreneurs:	402
Total Loans:	$126,725
Delinquency Rate:	0.00%
Default Rate:	0.00%
Currency Exchange Loss Rate:	0.00%
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Kiva Fundraising Status

Fundraising Status:	Pilot
Kiva Notes:	Mol Bulak is a Pilot Partner
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Other Information Sources

MIX Profile:	View MIX Profile
Network Affiliation:	MFC - Microfinance Centre for Central and Eastern Europe and the New Independent States
Social Performance Reporting Level:	N/A
Consumer Protection Principles:	Endorsed
Field Partner Website:	View Website
Email Contact:	bishkek@molbulakfinance.kg

The mission of Mol Bulak is to successfully build long-term and business relations with customers through provision of flexible and fast financial solutions to those in need.

Mol Bulak Finance is strongly committed to the principles of sustainable development on the base of 3 PPP concepts - People (building human capital and taking care of its customers and the society as well), Profit (to be profitable to grow further) and the Planet (taking care of the environment). The Company is the only one MFI in Kyrgyzstan who delivers its services to customers 365 days a year.

Offering individual secured loan product (SME) and group loan products targeted at low-income woman-entrepreneurs, Mol Bulak Finance has 24 offices throughout Kyrgyzstan and employs more than 241 employees and 90% of them are females. As of May 12, 2009 Mol Bulak Finance had over 14,000 active customers and a total portfolio of $ 5,0 mln. 85% of the Company’s customers are women living and running their businesses in rural areas in trade, agriculture, manufacturing and services.

In the very heart of Central Asia lies a wonderful mountainous land – a country of Kyrgyzstan with the rich history that dates back to 201 BC. More than 80 ethnic groups live here, creating the variety of cultures and traditions. It serves as a trade crossroad and a trans-shipment point between the Europe and Asia as before when it used to be a connecting-link between north and south directions of Silk Way.

Sweeping mountains cover much of the country (93%), it sometimes referred to as “the Switzerland of Central Asia”, with sub-tropical valleys and basins. The emerald-blue Issyk-Kul Lake, also known as ' Pearl of Tien Shan', is the second largest mountain lake in the world after Titicaca. It’s home for one of the longest epics in the world, “Manas”, which is 20 times longer, than Homer’s Odysseys and an Iliad taken together, and 2.5 times longer, than a Mahabharata.

The economy of Kyrgyzstan was severely affected by the collapse of the Soviet trading block. More than 20% of the Kyrgyz population has left to other parts of the Soviet Union within past 10 years to seek work.

While strong growth in neighboring Kazakhstan and China has created opportunities for expansion, Kyrgyzstan remains a small economy vulnerable to external shocks. Persistently high inflation, coupled with the global financial crisis, threatens to undermine recent improvements in poverty levels.