In 2017, LMDF added a new country to its portfolio: Kyrgyzstan. It is a very poor mountainous country between China, Kazakhstan, Tajikistan, and Uzbekistan where most of the population is active in the sectors of agriculture and livestock.
Bailyk Finance was created in 2011 to reach micro and small entrepreneurs, mainly living in rural areas, mostly women. Currently the MFI has more than 28,000 clients with an average disbursed loan of EUR 622. More than 80% of the portfolio finances income-generating activities, mainly agriculture.
The institution implemented a solid methodology and its credit risk is well controlled. This results in a strong impact on financial inclusion in its areas of operation. Bailyk has developed at the same time, a habitat product to support customers in improving their living conditions.
Bailyk Finance operates in 4 of the 7 provinces of Kyrgyzstan, through a network of 35 branches. The MFI’s head office is located in Bishkek, while the rest of the agencies are out of capital in rural areas. In these agencies, they offer a range of credit products that cover the financing needs of an underserved population. They also offer several courses on an annual basis: financing of agriculture, financial education, and green finance.