Animal husbandry and agricultural loans are a significant part of FMFC’s loan portfolio. A loan taken from …


Loans received from FMFC, most recently under the Women’s Entrepreneurship Programme helped Mashraphan …


In the Kyrgyz Republic, housing loans represent 35 percent of FMFC’s total portfolio.

AKDN / Jean-Luc Ray

Sultanaliev Monolbek, a farmer in Naryn town, Kyrgyzstan has received loans from FMFC and a grant from …


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Kyrgyz Republic | Microfinance


FMFC serves over 18,000 clients

First MicroFinance Company (FMFC) client in Kyrgyzstan. Women represent 37 percent of FMFC’s borrowers.


First MicroFinance Company, Kyrgyz Republic

FMFC-K was established in 2006 to provide microfinance facilities in the rural mountainous areas of the Osh and Naryn provinces, which suffer from some of the highest poverty rates in the country. While most microfinance institutions have a strong focus in the capital city of Bishkek and other urban areas, FMFC-K targets rural areas in accordance with its mandate to serve clients who do not have access to financial services.

Despite the difficulties of operating in the mountainous region and amid economic hardship, FMFC-K has now grown its network to 17 branches and outlets. It serves more than 18,000 clients, with over 60 percent in rural areas. FMFC-K is now the largest microfinance provider in the southern region of the Kyrgyz Republic.

FMFC-K focuses on providing loans. Approximately two-thirds are in the livestock and agricultural sector, reflecting the macroeconomic characteristics of the country. The loan portfolio has grown rapidly, with financing provided for animal husbandry, trading and enterprise activities, housing improvement and education, and agricultural inputs for growing cotton, potatoes, vegetables and wheat. FMFC-K also provides loans to small- and medium-sized enterprises. These are generally involved in trade, manufacturing and service activities that enable clients to increase working capital, acquire fixed assets and develop or renovate business premises. Women represent 37 percent of FMFC-K’s borrowers.

Select, ambitious women are involved in the Women in Business Programme. This was developed in collaboration with the European Bank for Reconstruction and Development (EBRD) to improve the quality of life amongst women in rural areas and small towns. Loan funding supports female entrepreneurs engaging in startups, business expansion and the diversification or modernisation of business operations. The programme includes technical support provided by EBRD consultants for business development, marketing, financial management and literacy training, and consultancies for women borrowers.

In alignment with FMFC-K’s vision to adopt digital financial services, the ELSOM electronic wallet, a digital repayment service, enables clients to repay loans via mobile phones, saving time and travel costs. FMFC-K has enlarged its financial services offered via partnership networks, enabling it to reach more remote clients.