What to know about this Lending Partner
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner
Status update - January 13, 2024
Kiva has decided to end its partnership with Bai Tushum Bank after nearly 13 years and over $29 million in loans. We have valued our long and fruitful partnership with Bai Tushum Bank over the years. Bai Tushum Bank is now financially sustainable and Kiva is looking to focus on other partners that can benefit more from the support of our lenders.
The partnership is now in inactive status, which means that Bai Tushum Bank will no longer fund loans on Kiva, although Kiva expects the partner to continue sending repayments owed to Kiva lenders as long as the partner has an outstanding balance. If and when this partner requests to fundraise on Kiva again, Kiva will first perform any additional monitoring and due diligence we deem necessary.
July 2020 - COVID-19 Update:
Kiva has been in contact with Bai Tushum Bank to understand how we can best support their business and borrowers during the ever-evolving COVID-19 pandemic. We continue to prioritize the safety and well-being of all staff, borrowers and their families as this global pandemic continues.
While country-specific responses to the crisis vary, most governments have imposed curfews, travel restrictions, and nation-wide shutdowns. This has caused many economies and businesses to grind to a halt.
As a result, Bai Tushum has allowed some of its borrowers to temporarily postpone loan repayments due to the aforementioned restrictions or fallout effects of the virus. Because of this, it is possible that lenders will see a delay in repayments over the coming months. As an impact-first funder, Kiva is committed to serving our Lending Partners as in past crises. We are sympathetic towards temporary increases in repayment delays and delinquency in order to help Lending Partners and borrower communities recover.
Kiva is working closely with Bai Tushum to support them and their borrowers through the COVID-19 crisis. Bai Tushum is sending regular updates to Kiva, and we'll update Partner Pages as we learn more.
On behalf of Kiva and Bai Tushum, we’re grateful for your continued support and understanding through this difficult time.
Partner description:
Bai Tushum Bank is a microfinance bank in Kyrgyzstan offering clients a range of financial products, including loans for business development, trade, production, leasing, mortgage, consumption and more, as well as savings accounts. Established as a bank in 2000, Bai Tushum has a portfolio mostly comprised of group loans designed to cater to the broadest population of clients.
Located in Central Asia, Kyrgyzstan declared its independence from the Soviet Union in 1991. Today, about 34% of the population lives below the poverty line.
The country’s microfinance sector is well-developed with more than 400 institutions. Bai Tushum is among the three largest institutions in the country, providing more than 20% of the nation’s microcredit.
Kiva lenders’ funds will help the bank expand its services in remote areas to impact even more vulnerable communities in Kyrgyzstan.
Bai Tushum Bank’s impact and partnerships:
The bank has entered a new stage in its development by becoming the first microfinance institution in Kyrgyzstan to receive a deposit-taking license. It launched its first savings products in September 2011. As of December 2012, Bai Tushum has more than 30,000 clients and a portfolio of $63 million.
An important area of operation for Bai Tushum is the support of social development projects. In the last year, the bank launched two new socially-oriented credit products: loans for the improvement of living conditions in rural areas, and loans for purchase of alternative energy sources. Additionally, Bai Tushum is training staff to implement financial literacy services for clients in the near future.
Here is a short video about the bank’s work and impact:
Bai Tushum partners with many well-known international organizations including International Finance Corporation (IFC), USAID, European Bank of Reconstruction and Development, GIZ, Oiko Credit, Triple Jump and more.