Bai Tushum & Partners and Mol Bulak, two microfinance organizations from Kyrgyzstan, along with the domestic law firm Kalikova & Associates, have established the ‘Revival Foundation’ to provide financial assistance to the southern regions of Kyrgyzstan affected by the recent riots. The foundation will serve residents of the cities of Osh and Jalabad and surrounding areas with financial aid and interest-free loans.
Bai Tushum & Partners and Mol Bulak will make the first contribution to the Revival Foundation in the amount of approximately KGS 1 million (USD 22,000) of humanitarian aid. The staff of both organizations will work to administer the interest-free loans. However, considering the magnitude of devastation – which is estimated to have affected hundreds of thousands of people to date – the organizations are appealing to all “social investors and socially responsible businessmen, donor organizations and all friends of Kyrgyzstan to provide funding for relief purposes.”
Triple Jump, a support organization for microfinance institutions (MFIs) based in the Netherlands, has also extended its support to the Revival Foundation and has opened a bank account for people who would like to donate money for the fund.
If interested in donating to the Revival Foundation, contact:
Tatiana Vorobieva, Chief Operating Officer
MCC “Mol Bulak Finance” LLC
2/7, Abaya St., 720017, Bishkek,
Теl/Fax: +996 1312 56 47 75, 56 47 82
About Bai Tushum & Partners:
Bai Tushum & Partners is a microfinance organization in Kyrgyzstan established in 2000. Bai Tushum & Partners works in both urban and rural areas. The organization currently operates 7 branch offices and 38 representative offices. As of 2008, Bai Tushum & Partners had USD 53.1 million in total assets, a gross loan portfolio of USD 35.1 million and approximately 19,000 borrowers with an average loan balance of USD 1,900 per borrower.
About Mol Bulak:
Mol Bulak is a microfinance institution (MFI), first established in the Issyk-Kul region of Kyrgyzstan in 2005. It provides small, unsecured group loans for individuals, primarily women, living in rural communities of Kyrgyzstan to support and encourage their economic development through the creation of small enterprise. As of 2008, Mol Bulak had USD 4.4 million in total assets, a gross loan portfolio of USD 3.9 million and approximately 8,000 borrowers with an average loan balance of USD 500 per borrower.
About Triple Jump:
Triple Jump was founded in 2006 to support the expansion of microfinance institutions (MFIs) in various stages of development by providing capital and advisory services. Triple Jump currently manages five microfinance investment funds, worth a total of approximately EUR 170 million (USD 247 million). Its investments span 90 MFIs in 37 emerging markets in Latin America, Eastern Europe, Africa and Asia.
Triple Jump was established by the NOTS Foundation, a Dutch development organization; Oxfam Novib, a Dutch organization for international cooperation and development; and ASN Bank, a “sustainability-driven” Dutch bank. Its shares are divided among these organizations and Triple Jump’s management team.
Triple Jump is comprised of Triple Jump Fund Management (TJFM) and Triple Jump Advisory Services (TJAS). TJFM provides its clients with four investment options: hard and local currency loans, equity, guarantees and subordinated loans. TJAS is an independent foundation that provides consulting services and technical assistance to tier-3 and tier-4 MFIs.
By Conner Brannen, Research Assistant
Sources and Additional Resources:
Mol Bulak Finance: “Establishment of a Charity Foundation to provide financial assistance to affected regions,” June 14, 2010: http://molbulakfinance.kg/en/news/2010/6/169
MicroCapital Universe Profile: Bai Tushum & Partners: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bai+Tushum
MicroCapital Universe Profile: Mol Bulak: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Mol+Bulak
MicroCapital Universe Profile: Triple Jump: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Triple+Jump
Browse the MicroCapital Universe and add your entry to the wiki https://www.microcapital.org/microfinanceuniverse/
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