Financial literacy seminars were attended by more than 100 residents of the former uranium deposit. The participants of those seminars received information on the basics of family budget and on how to borrow in a right way, so that loan would bring benefits to borrower rather than become an unbearable burden.

The trainers of the microcredit company spoke to attendees about the risks existing in lending, what one needs to know before and in the course of borrowing, how to efficiently work with loan, and other important details that everyone who intends to receive a loan for business development needs to know. At the end of the seminar, the participants were given an opportunity to receive answers to any questions that were of interest to them.

The location of Min-Kush urban type settlement is remote from the regional center and other villages of Dzhumgal region, Naryn oblast. During the Soviet times the plant for production of uranium ore and “Orgtechnika” tool factory operated on the territory of Min-Kush. After the collapse of the Soviet Union, local population has lost their jobs. Many settlement residents have left, those who remain breed cattle.
– Microlending has helped many people to become financially independent. But in order to efficiently work with loan it is necessary to possess basic financial knowledge, – emphasized FINCA Kyrgyzstan COO Margarita Cherikbaeva. – It is important to keep in mind the potential danger, associated with several loans received by a borrower at the same time from several credit institutions. We pay special attention to this subject at our seminars.
The financial literacy enhancement initiative of the microcredit company had a very warm welcome among the Min-Kush residents. FINCA is going to use the lessons learned in conducting such seminars in other settlements of Kyrgyzstan.