Throughout 2008 and 2009 Triodos Facet has provided technical assistance to Micro Credit Company Bai Tushum, one of Kyrgyzstan’s leading microfinance institutions (loan portfolio of > US$ 35 million), in its process to transform into a regulated financial institution.

This assistance was co-funded by the IFC and by Bai Tushum. Key issues of the transformation process supported by the team of Triodos Facet consultants included business planning, governance, funding structure, the search for shareholders, risk management and the preparation for deposit taking. In September 2009 the Central Bank of the Kyrgyz Republic granted Bai Tushum a license as Micro Finance Company.

On Friday 2 October 2009 Triodos Facet consultant Anna Semenova (right) made a presentation to Bai Tuhsum’s general manager Gulnara Shamshieva (left) and members of the management team about the progress in developing and introducing deposit products in the institution and about key issues for further joint work. Representing Triodos Facet, Mrs. Semenova offered a plaque to congratulate Bai Tushum & Partners for obtaining the license as Micro Finance Company.

[Kyrgyzstan, ref: 3223; 2007-2009]