Microfinance Organizations establish ‘Revival Foundation’ for riot hit Kyrgyzstan

Microfinance Focus, June 17, 2010: In the wake of recent riots that have brought down the cities of Osh and Jalabad of Kyrgyzstan to rubbles, two of the country’s microfinance organizations, Bai-Tushum & Partners and Mol Bulak Finance along with a law firm Kalikova & Associates have established a non-profit ‘Revival Fund’ for the victims. The foundation will serve the Southern regions of Kyrgyzstan with financial aid and interest free loans to those who suffered from the recent events.

Bai-Tushum & Partners and Mol Bulak Finance will make first contribution to the Revival Foundation by providing interest free financing. The staff of these organizations will jointly administer financial aid and interest free medium and long-term loans to the vulnerable population. These organizations have already arranged humanitarian aid for more than 1.000,000 KGS.

But given the magnitude of devastation additional funding would be needed. The management of Mol Bulak Finance, Bai-Tushum & Partners and Kalikova & Associates are appealing to all social investors and socially responsible businessmen, donor organizations and all friends of Kyrgyzstan to provide funding for relief purposes to the newly-established foundation.

Netherland’s microfinance institution Triple Jump has also extended its support to the Revival Foundation and has opened a new bank account in the Netherlands for people who would like to donate money for the fund (42.98.66.720, Triple Jump Advisory Services, ‘reconstruction Kirgizia’). ‘It is quite remarkable that financial institutions take the lead in relief aid’, says Erik Geurts from Triple Jump. Geurts is Board Member of Bai Tushum.

Mol Bulak Finance provides small unsecured group loans for individuals and groups, mainly women living in rural communities of Kyrgyzstan to support and encourage their economic development through the creation of small enterprise. Currently it works in the Chuy, Talas, Issyk-Kul, Naryn, Osh, Jalalabad and Batken regions. Bai Tushum holds 25% of the total volume of loan portfolio of microfinance institutions of the Kyrgyz. The loan services of the Company are accessible and diversified, among which are: loans for business development, trade, production, agriculture, leasing, mortgage, consumer loans and loans for business abroad.

Donate for the Foundation

Beneficiary name: Revival Foundation

Beneficiary account No.: 1280010115674158

Bank name: Kyrgyz Investment and Credit Bank

Bank SWIFT*: KICBKG22

Correspondence bank: Deutsche Bank Trust Company Americas, New York, USA

Correspondence bank SWIFT: BKTRUS33

Bank’s account No.: 04-416-441

* Banks in Kyrgyzstan do not have IBAN

If you have any further questions , You can contact :

Tatiana Vorobieva | Chief Operating Officer

MCC “Mol Bulak Finance” LLC

2/7, Abaya St., 720017, Bishkek,

Теl/Fax: +996 (312) 56-47-75, 56-47-82

www.molbulakfinance.kg | www.mbf.kg

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