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Kyrgyzstan Review, 10 years ago

[22.04.23] Excerpt from the Interview with A.Abdraev, General Director of Financial Company for Support and Development of Credit Unions

The company has been operating in the market since 1997 and has achieved good results since the time. Presently there are about 300 credit unions, operating with over 26 thousand people involved. Starting capital of the company amounts to 150,2 mln soms. The credit union has allocated 104,5 mln soms in credits. 265,7 mln soms is the company's credit portfolio. 70% of the credit union members are rural peasants
For instance, we have been successfully cooperating with such credit unions as "Dospek" in Uzgen districts and "ABN" in Kara-Buura district. "Dospek" has a credit history of 21 loans, all returned in time. Now it has received a loan of 3 mln 612 thousand soms. "ABN" was issued a loan of 2 mln 75 thousand soms
We have managed to lower interest rates down from 20% to 17% and reduced the terms for consideration of credit applicants - it used to take about a month while now its a week to 20 days. We now issue 2-3 year long loans
"Erkin Too", April 22, 2003

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