The shareholders finance FINCA growth in Kyrgyzstan. Six million US dollars have been invested into the company’s charter capital during the past 7 months of the current year.

“The decision on increasing of charter capital was made due to several reasons. First, FINCA Microfinance Holding is satisfied with the operating results in Kyrgyzstan. I must say that this is an achievement of each of us in the company. Such a decision of the shareholders will allow us to achieve targeted results in the future as well. Second, the shareholders support the development strategy of FINCA Kyrgyzstan and intend to support the expansion of the company’s market presence. Third, such funds are also provided as basic funds upon the company’s transformation into bank”, – FINCA CEO Makhmud Saidakhmatov explained.

In the nearest future the funds provided by the shareholders will be used for the implementation of loan portfolio growth plans. Thus, the amount of paid up charter capital of our company currently constitutes USD 19 million (or almost KGS 900 mln.). In accordance with the current legislation, minimum charter capital of the microcredit companies that branches have must constitute at least KGS 5 million. Charter capital is a guarantee that the company’s obligations to clients and creditors will be performed.