MFI ReportPartnerships
| Name | Relationship |
|---|---|
| AKAM | Network Affiliation |
| AMFI Kyrgyzstan | Network Affiliation |
| Oikocredit | Funding |
Mission:
FMCC’s primary objectives are to reduce poverty, diminish the vulnerability of poor populations and alleviate economic and social exclusion. It aims to help people become self-reliant and eventually gain the skills needed to graduate into the mainstream financial markets.
FMCC’s ... Read more
FMCC’s ... Read more
FMCC’s primary objectives are to reduce poverty, diminish the vulnerability of poor populations and alleviate economic and social exclusion. It aims to help people become self-reliant and eventually gain the skills needed to graduate into the mainstream financial markets.
FMCC’s underlying principles are:
1) Long term sustainability – defined as full coverage of costs through revenues and the generation of a modest surplus to finance expansion,
2) Broad outreach with national coverage and supply of services to a range of economic sectors,
3) Maximum impact on the economic livelihoods of the target clientele. Hide
FMCC’s underlying principles are:
1) Long term sustainability – defined as full coverage of costs through revenues and the generation of a modest surplus to finance expansion,
2) Broad outreach with national coverage and supply of services to a range of economic sectors,
3) Maximum impact on the economic livelihoods of the target clientele. Hide
Background and Main Challenges:
Background: For more than 60 years, various agencies of the Aga Khan Development Network (AKDN) have offered microfinance products and services through integrated development programmes and as self-standing microfinance institutions.
These institutions, which are now administered by AKAM, ... Read more
Background: For more than 60 years, various agencies of the Aga Khan Development Network (AKDN) have offered microfinance products and services through integrated development programmes and as self-standing microfinance institutions.
These institutions, which are now administered by AKAM, contribute to poverty alleviation, economic growth and social cohesion in 12 countries in the developing world. The microfinance programmes, microfinance institutions (MFIs) and regulated microfinance banks have delivered over USD 200 million in loans since their inception.
AKDN launched its microfinance programme in the Kyrgyz Republic in 2003. The First MicroCredit Company (FMCC) was established in October 2006 and took over the activities of the AKDN microfinance programme. This transformation is an intermediate step towards the conversion into a fully-licensed microfinance bank.
Since inception, FMCC has disbursed a total amount of circa USD 32 million to over 35,000 borrowers.
Challenges: FMCC’s challenges are:
1) Providing a range of microfinance products to the poor, throughout the Kyrgyz Republic and contributing to innovation in the local banking sector;
2) Strengthening the institutional set-up of the Programme;
3) Developing local human resources. Hide
Address:
Razzakova Street 48a
Osh
723 500
Kyrgyzstan
Phone:
+ 996 (0) 3222 74747
Email:
info [at] fmcc [dot] kg
Website:
Main Funding Sources:
Shareholder Capital
Products:
• Loans (Individual and Group Loans)
Looking for (Investment Types):
Loans in Local Currency
Capacity Building Grants
% Operations Comprised by MF:
91 - 100
Date established:
Jan 1 2006
FYE:
31-Dec
Current Legal Status:
NBFI
Regulated:
yes
At a glance
- Assets
- Gross Loan Portfolio
- Equity
Contacts
-
Chris HeringCEOhering [dot] family [at] t-online [dot] de+996 3222 49 009
-
Mirlan Bakirovinfo [at] fmcc [dot] kg+ 996 (0) 3222 74747
-
Ravshan DosonovFinancial Controllerravshan [dot] dosonov [at] fmcc [dot] kg+ 996 3222 74 747 / ext. 148
