Currently, they are engaged in making a repair in their home. They have already bought new furniture and routine repairs are about to be over. However, there is a problem for almost every family living in Kyrgyz village. Last year, the drastic reduction of water levels in the Toktogul reservoir led to failure in capability of the Toktogul hydropower station to provide sufficient electricity for the population. The Government cut off 3-phase current for all households around the country, and people living in houses had to heat their homes with coal. Meerim’s family was among them.
This year they are planning to stock up on coal in advance, since the situation with allowing usage of 3-phase current is still uncertain. Meerim needs a loan to purchase three tons of coal and with the rest of the loan buy an armored door. As a matter of fact, Meerim and her husband have many plans ahead: finish repairs, buy two cows, a car and build a building and a shed for cattle.
Meerim's partners are Aiganysh, Mairamkul, Tamara, and Eliza. Only Eliza is 22 and single. The rest of them are in their mid 40s, married and have two to three children each. Eliza works in a TV station as a manager. She needs a loan to buy sand-blocks for building a fence around her house. Aiganysh needs a loan to buy fireboard and chipboard for her ceiling. Mairamkul needs a loan to buy plastic windows and hay for cattle. Tamara needs a loan to buy hay and a refrigerator.
--- Where Did This Loan Come From? ---
This loan is brought to you by Mol Bulak Finance, a young and ambitious socially-focused MFI in Kyrgyzstan.
Mol Bulak Finance is strongly committed to the principles of sustainable development on the basis of 3-Ps concept - 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). It is also the only MFI in Kyrgyzstan who delivers its services to customers 365 days a year. To learn more about Mol Bulak and view a Video presentation about the organization, please visit: http://www.kiva.org/about/aboutPartner?id=135
If you would like to support and learn more about Kyrgyzstan and micro-finance in Central Asia, please join our Lending Team - Supporters of Kyrgyzstan - at http://kiva.org/team/kyrgyzstan. Members will get special updates and news from the Kiva Fellows in Kyrgyzstan and Mol Bulak staff.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid