Incofin cvso recently extended a loan to Kyrgyz Bailyk Finance – with over 45,000 customers and 43 offices, one of the largest microfinance institutions in the country. Bailyk Finance was founded in 2011 with the mission to create affordable financial solutions for rural and small cities’ residents to improve their quality of life. Reaching small entrepreneurs and farmers at the bottom of the social ladder is one of the key objectives of Bailyk Finance.

Most people in Kyrgyzstan work in the agriculture and livestock sector. Young farmer Choro Baarov is one of them. Choro’s childhood wish came true when he could start his own farm raising cattle and horses. Thanks to a loan from Bailyk Finance, he was able to expand his stables with two horses and seven cows, which enable him, for instance, to sell more milk and to increase his profits.

Incofin cvso’s financing allowed Bailyk to issue loans to clients like Choro, who want to invest in the development of their business or to renovate their homes.