Kalmyrza is a 71-year-old villager from Iyri-Suu village. He has worked as a mechanic for all of his life and was really eager to study so he could instill a love of learning in all of his seven children, three of whom became teachers. In 1960, in order to find an additional means of subsistence for his family, he started his activities in a cattle-breeding business. With the initial capital of 15,000 KGS, he managed to develop his business with the monthly profit of 3,000 KGS.
Being a very purposeful and positive person, Kalmyrza works hard to support his family, and today he has one cow, twelve sheep and seven horses at his farm. Kalmyrza plans to use this loan of 100,000 KGS to increase the number of cattle. In the future, Kalmyrza is planning to help his daughter purchase a flat and save money for the payment of the higher education of his grandchild.
Bai-Tushum and Partners use Kiva funding to target the 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.