Kyrgyzstan

Kyrgyzstan, home to 6.2 million people, has experienced several years of stable economic growth. However, poverty still affects about a third of people in rural areas, and many families depend on remittances from workers working overseas, especially in Russia.

FINCA Kyrgyzstan has grown to serve people across the entire country and is actively expanding its footprint through partnerships and low-cost channels such as mobile banking. FINCA Kyrgyzstan is a fully licensed bank, offering a diverse range of savings, credit and money-transfer services. The bank was awarded Smart Certification in recognition of its rigorous client protection practices.

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Financial Inclusion

Kyrgyzstan:
Reaching the Financially Excluded

62% Adult population financially excluded

44,625 55% Female borrowers Female outreach in Kyrgyzstan is significantly higher than the region overall (40%). % #

120,593 Total FINCA clients

68,400 84% Borrowers in rural areas Poverty in Kyrgyzstan is concentrated in rural areas, where 84% of FINCA’s clients reside. % #

81,429 Total FINCA borrowers

Financial exclusion is pervasive throughout Kyrgyzstan. Six in ten adults lack access to banking services — higher than the regional average. In the face of such broad gaps in coverage, FINCA Kyrgyzstan is is also driving financial access to the most marginalized populations. Most of its clients live in rural areas and over half are women.

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Living Standards

Kyrgyzstan:
Quality of Life

1,629 2% Client homes without water Although the population’s access to safe drinking water improved significantly during last decade, there are huge disparities among regions in the country. % #

814 1% Client homes without electricity % #

59,443 73% Client homes without access to Internet This is about 20 percentage points higher than in the overall region (55%). % #

4,071 5% Clients who don’t own their home % #

753 1% Head of household with primary education or less % #

FINCA's customers in Kyrgyzstan enjoy relatively good living standards compared with their counterparts in the region. Unlike Tajikistan or Georgia, the vast majority of people have safe drinking water in their homes. Likewise, educational levels and access to electricity are better than most other places where FINCA works.

Despite these advantages, internet access is considerably lower than in neighboring countries. This is not surprising considering that most of our customers live in rural areas, and the mountainous terrain of the countryside that makes network coverage more difficult.

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Income & Employment

Kyrgyzstan:
Income & Employment

$2,466 40% Average annual profit % #

2.7 Average # of employees per client enterprise

223,584 People employed in FINCA-funded enterprises

67,909 30% Employees hired due to FINCA loan % #

185,575 83% Wages paid above the poverty line % #

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FINCA's borrowers in Kyrgyzstan are a critical source of employment and wages for hundreds of thousands of people. They run small but profitable businesses, especially in the livestock and services sectors (see Special Topics, below). On average, they employ 2.75 people per enterprise. Eighty-three percent of these workers are paid wages that are above the poverty line, multiplying the impact of our loans.

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Women’s Empowerment

Kyrgyzstan:
Empowering Women

44,625 55% Female borrowers Female outreach in Kyrgyzstan is significantly higher than the region overall (40%). % #

10,420 13% Clients with female-headed household % #

32,748 40% Households with female as main earner % #

36,643 45% Businesses run by women % #

96,901 43% Women employed by enterprises Avg. #

109,556 49% Jobs created by women % #

At 55 percent, women make up are larger share of FINCA Kyrgyzstan's borrowers than any other subsidiary in the region. The majority of these women are the main source of income for their families, and 13 percent of them are single mothers. Forty-three percent of the employees hired by our clients are also women, giving them a foothold in the workplace and a chance to support their own families.

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Clients’ Goals

Kyrgyzstan:
Attaining Business and Personal Goals

Goals Set By FINCA Borrowers

Goals Met By FINCA Borrowers

2,443 3% Start a business % #

33,386 41% Expand a business % #

814 1% Invest in education % #

26,057 32% Improve their home % #

8,957 11% Buy an asset % #

4,071 5% Pay down debts % #

1,710 70% Start a business % #

27,043 81% Expand a business % #

521 64% Invest in education % #

19,543 75% Improve their home % #

7,076 79% Buy an asset % #

2,565 63% Pay down debts % #

Like other FINCA clients throughout the region, many of our borrowers in Kyrgyzstan come to FINCA with business-related goals. But a significant portion of them are also focused on household concerns. Like Malawi, which also serves a mostly rural population, Kyrgyzstan has a high proportion of clients whose main goal is to improve their homes or to buy an asset.

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Special Topics

Kyrgyzstan:
Poverty, Economic Sectors, Jobs and Profits

FINCA Loan Sectors

16,286 20% Trade % #

17,100 21% Services % #

1,629 2% Manufacturing % #

3,257 4% Crops % #

43,972 54% Livestock % #

Profit and Profit/Sales Ratio by Sector

$5,391 27% Trade Profit/sales ratio Avg. profit

3,204 53% Services Profit/sales ratio Avg. profit

$8,493 33% Manufacturing Profit/sales ratio Avg. profit

$1,048 57% Crops Profit/sales ratio Avg. profit

$932 37% Livestock Profit/sales ratio Avg. profit

Jobs by Sector Due to FINCA Loan

13,675 20% Trade % #

13085 19% Services % #

2,443 4% Manufacturing % #

3,968 6% Crops % #

34,738 51% Livestock % #

Kyrgyzstan

Financial Inclusion

Kyrgyzstan:
Reaching the Financially Excluded