Microfinance Focus June 16, 2011: Kyrgyzstan based microfinance institution; Bai Tushum & Partners Micro Credit Co. recently completed 10 years of its start up in the country.

With funding from USAID, ACDI/VOCA and Swiss Caritas who contributed a total of $1.2 million in capital, Bai Tushum Financial Foundation, now known as Bai Tushum & Partners Micro Credit Co., was established in September 2000.

Bai Tushum was originally a consolidation of three independent credit programs in Chui, Osh and Jalalabad that had been plagued with delinquency and a variety of other problems. Upon the completion of the program in August 2005, BTFF had branches in Osh, Jalalabad and Bishkek and 10 sub offices throughout Kyrgyzstan, and had an outstanding loan portfolio of $5.6 million extended to almost 3,000 borrowers.

Today, Bai Tushum & Partners Micro Credit Co., maintains about 27,000 active clients and a portfolio of $39.5 million

BTFF was registered as a Microcredit Agency under new law in January 2003. Through its lending programs BTFF has created employment opportunities in the rural areas, particularly in the southern region of Kyrgyzstan. In addition to creating permanent employment, the SMEs and farm enterprises have provided seasonal employment to people involved in planting, harvesting, and marketing seasons.