Shamshibek T. is a 60-year-old pensioner, who supports his family by means of cattle breeding. He worked as an engineer at an agro-technical company for 40 years and was known as a very steady and responsible person. Unfortunately, pensions in rural areas are low and people need to find an additional means of subsistence to live on. For this reason, Shamshibek’s family decided to engage in cattle breeding.
As Shamshibek was born into a farmer’s family and had wide experience in animal breeding, he started this activity with great enthusiasm. He used his initial capital of only 5,000 soms (KGS) to buy cattle and managed to increase the number. Also, Shamshibek began to cultivate sunflowers and perennial herbs which serve as concentration of forage for his cattle. With the revenue, Shamshibek gave a good education to his children which allowed them to successfully manage their lives.
Now Shamshibek plans to use this loan of 80,000 KGS to buy more cattle for fattening and reselling. He wants to use the revenue from this loan to help his son buy his own house.
Bai-Tushum and Partners uses Kiva funding to target an especially vulnerable population. Bai-Tushum and Partners is one of the leading microfinance institutions in Kyrgyzstan. As a reliable financial partner, Bai-Tushum contributes to the economic development of the Kyrgyz Republic through the delivery of microfinance services in rural and urban areas that lead to increased employment and meet the interests of its clients and investors.
About Bai Tushum Bank CJSC
Bai Tushum Bank CJSC is a microfinance bank in Kyrgyzstan offering clients a range of products including loans for business development, trade, production, leasing, mortgage, consumption and more. Its portfolio is mostly comprised of group loans that cater to the broadest population of clients. Kiva lenders’ funds help the bank expand its services in remote areas to impact even more vulnerable communities in Kyrgyzstan.