BISHKEK, Kyrgyzstan, October 5. In Kyrgyzstan, 349,800 individuals obtained microloans from non-banking financial organizations with a total value of 23.628 billion soms ($226.3 million) from January through June 2023, Trend reports.
Data from the State Statistical Committee of Kyrgyzstan reveals that compared to the same period last year, the number of people getting microloans increased by 17.4 percent, while the volume of microloans issued grew by 35.5 percent.
The majority of microloans were granted for terms ranging from 1 year to 3 years, totaling 10.153 billion soms ($114.4 million), which accounts for 43 percent of the total microloans issued. Additionally, loans with durations ranging from 6 to 12 months amounted to 9.444 billion soms ($106 million), representing 40 percent of the total.
Most of the people who received microloans were women, making up 58.1 percent, or 203,200 individuals.
The significant portion of microloans issued between January and June this year was directed towards consumer needs (45.9 percent) and agricultural development (25.3 percent). Microloans for use in trade and catering accounted for 11.8 percent, while those for construction made up 5.4 percent.
In the first half of this year, 601 non-banking financial institutions and 371 of their branches were operating in Kyrgyzstan. The total number of clients (both legal entities and individuals) at the end of June this year reached 674,400, which is 23,300, or 3.6 percent, higher than during the same period in 2022.
