Expanding horizons of cooperation between Bailyk Finance and APIU with support of IFAD

Bishkek, May 18, 2023. /Kabar/. On May 17, 2023, the top management of the Bailyk Finance Microcredit Company (MCC) discussed with the IFAD Program Officer Karim Sissoko the status of the implementation of the Agency Lending Implementation Project and results achieved so far, and to what extent these results can be made sustainable and potentially scaled up.

The product was developed with the support of the "Access to Market Project" (ATMP) funded by IFAD. During the discussions, Mubara Dzhamalova, Chief Operating Officer of Bailyk Finance MCC, has requested the possibility of being involved in the future ATMP social mobilization and communication activities for heightened visibility. This would mean the participation of Bailyk Finance to promote their product during the information campaigns as well as a round tables with the participation of members of the dairy cluster. The coordinator of ATMP agreed to the proposal. Karim Sissoko at the meeting noted the relevance of innovation for the Kyrgyz market, and also expressed hope for the successful implementation of innovation, which is supported by IFAD.

“The introduction of this innovation benefits all cluster members, in particular Bailyk Finance gets the opportunity to expand access to microfinance in remote regions of the country, dairy processing plants are provided with stable suppliers of high-quality milk. And the most important link is the farmers who will receive timely financing with facilitated conditions,” Arzymat Derbishaliev, Director of the Regional Department of Bailyk Finance MCC said.

The Agricultural Projects Implementation Unit (APIU) under the Ministry of Agriculture of the Kyrgyz Republic was established to coordinate, manage and implement agricultural projects that receive financial support from the World Bank Group, the International Fund for Agricultural Development (IFAD) and other donors.