Project detail - BAI TUSHUM BANK CJSC


Status: Completed investment
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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Bai Tushum Bank (“BTB”) is a top-10 mid-sized universal bank with focus on MSME/Retail in the Kyrgyz Republic. With ~700 staff the bank operates a countrywide network. Their mission is to help their country, society, citizens and businesses by means of providing understandable, affordable and innovative financial solutions. Originally BTB started as a microfinance company in 1997 and obtained full-fledged banking license in 2012 (first among MFIs in the country to become a regulated bank). BTB is an existing client of FMO since 2014.

What is our funding objective?

To provide stable medium term funding in local currency to finance BTB's loan portfolio and improve the balance sheet structure of the bank.

Why do we fund this investment?

This transaction fully supports FMO’s strategic aim to reduce inequalities. The funds will be used to finance a combination of Micro clients and women/youth/rural agricultural SME clients of the bank. In turn, this supports job creation and maintenance in a LMIC where more than a quarter of the population live below the poverty line and unemployment rate is ~7.3% (16% for youth). MSMEs are very important to the Kyrgyz economy contributing to 40% of GDP and providing jobs to ~ 500,000 people. Access to credit remains critical for further development of the MSME segment.

What is the Environmental and Social categorization rationale?

The project has been categorised as Category C in accordance with FMO’s Sustainability Policy. The Project’s activities are deemed to have minimal or no adverse environmental and social risks and/or impacts. As part of the Project, Bai Tushum Bank will be required to apply the EDFI Exclusion List and (Country) E&S laws and regulations.

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4/24/2023 USD 2.00 MLN
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Website customer/investment
Europe & Central Asia
Financial Institutions
Publication date
Effective date
End date
Total FMO financing
USD 5.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)