Microfinancial holding FINCA is one of the largest international companies in the sector of microfinancing in 23 countries over the world.

In Eurasia, FINCA is functioning in Armenia, Azerbaijan, Georgia, Kosovo, Kyrgyzstan, Russia, Tajikistan including in the Middle East – in Afghanistan, Jordan and Pakistan. In Latin America – Ecuador, El-Salvador, Guatemala, Haiti, Honduras, Mexico and Nicaragua. In Africa – Democratic Republic of Congo, Malawi, Tanzania, Uganda, Zambia and Nigeria.

Worldwide famous financial development institutions are the shareholders, such as:

FINCA International is main shareholder of the microfinancial holding FINCA. It was established in 1984. It is American non-commercial organization. Head-quarter is located in Washington D.C.

IFC– the International Financial Corporation – is a member of the World Bank Group. It is the biggest development institutions, which focuses on private sector of the developing countries. It was established in 1956. Through capital mobilization, IFC gives people opportunity to combat poverty and improve living standard. Today, 182 countries are IFC members.

KfW Entwicklungsbank (KfW) – German Development Bank. It was established in 1948 as the public legal organization KfW Bankengruppe. Today, 80% of KfW belongs to the Government of the Federal Republic of Germany and 20% – federal lands. KfW has representations in more than 70 cities of the world. It is the world known financial partner, which uses own assets for the development projects.

FMO is the Netherlands financial development corporation. It was organized in 1970; it is the public-private development bank. Controlling stock of the bank (51%) belongs to the government of the Netherlands. Leading Holland banks (42%), and trade unions, enterprises and private persons (7%) are holders of other shares.

Company responsAbility Social Investments AG is a company of social investment. It is one of world leaders among managing companies in sphere of social investment with managed assets above 1 billion USD. The company responsAbility carries out financial activity at the market of 60 developing countries.

ASN-Novib Microcredit Fund (ANF) – Microcrediting Foundation. It was established in 1999 by ASN-Bank and Oxfam-Novib. It became the first investment Foundation for the microfinancial organizations in the Netherlands. The Foundation allows the private investors to invest funds in the microfinancial organization through purchase of shared securities.

The ordinary person with low income who needs help in development of his/her own business and improve quality of his/her life is in focus of the holding FINCA. Such person developing his/her business and working for sake of his/her family faces social problems. It makes worse quality of his/her life, and as a result, life of whole society. Certainly, the company FINCA is not capable to address all social problems. But FINCA stands up for establishing of harmonic relations with surrounding world, environment, offers goods and services necessary for prosperity of the society; maintains practice of social responsibility in the country and introduces its main principles.

FINCA was established in Kyrgyzstan in 1995. Mission of the global network FINCA is to provide financial services to the entrepreneurs with very low income that they can create jobs, generate assets and improve their living standard. The first solidary-crediting group was set up in the Chuy province – in Tokmak town. In 2003, FINCA was re-registered in the closed joint stock company “Microcrediting Company FINCA” within new microfinancial legislation of Kyrgyzstan.

According to data on end of November 2013, 126 453 active clients are the customers of the CJSC “MCC FINCA”. Credit portfolio is 5,5 billion soms. During last decade, return of the credit portfolio is over 99%. FINCA is one of the largest employers in the country. So, up to date, more than 1400 officers work in 26 branches of the company in the country.

Our company was a pioneer in introduction of the programme on decreasing of interest rate for the clients. Only in 2012, interest rates were decreased by 7%. The company has intention to reduce interest rates for its clients. In this relation, work is done to increase effectiveness of operational processes.

Since 2003, the CJSC “MCC FINCA” regularly conducts surveys on assessment of influence of the company activity on the customers. In 2010, the company undertook an initiative and set up the standing audit committee on social impact at the Board level and started implementing a comprehensive programme on monitoring and social impact management. Aim of this work is to ensure compliance of FINCA’s business practice with general standards of social responsibility of the sector.

FINCA defines social impact as:

1. Extended access to financial services, first of all for people with low income;

2. Increasing of employment rate and income;

3. Living standard improving;

4. Extending of opportunities and achievement of personal aspirations of the clients and their families;

5. Responsible and fair attitude to all shareholders and society to which we belong.

Along with its main mission – provision of financial services to the citizens with low income – the CJSC “MCC FINCA” carries out substantial events within corporative social responsibility.

Since 2011, the company actively provides support to the schools and pre-school facilities, hospitals and local communities. The CJSC “MCC FINCA” takes care of the elder generation of the country. On the Victory Day and Day of Aged People, the veterans and pensioners do not stay without care of the company. Starting form 2005, the company realized 400 social projects.

The CJSC “MCC FINCA” provided help on repeated basis to its clients who were affected as a result of the events of 2005 and 2010. In June 2010, simplified conditions on credit liabilities were offered to 2 497 people. In 2011, the company conceded to 83 clients due to force-major circumstances. In 2012, 318 credits were restructured. Main number, 237 credits were taken by the citizens of Alay rayon. Long winter and murrain became key reasons of changing of terms and conditions of these loans.

In 2012, the company has written off the credits for 250 clients in amount of 5 765 467 soms. In 2013, the same operation was done for 451 clients in amount of 12 765 459 soms.

Additionally to its borrowers, the CJSC “MCC FINCA” supported social objects affected during June events of 2010 in the south of the country. The company has allocated 100 thousand USD to the hospitals in the southern provinces of the country. Special medical equipment and other necessary materials were purchased.

Since 2012, the company puts efforts and uses opportunities to enhance financial literacy of whole population of the country. In remote dwellings, regional centers, towns and cities, i.e. in all parts of Kyrgyzstan where the CJSC “MCC FINCA” operates, trainings on financial literacy are held. During one and half year of the project operation, over 300 training courses have being held in more than 200 settlements of the country. Over 6000 people have been trained on financial literacy in our company. Sessions are held based on special methodology “Programme of trainings on financial literacy for the population”. The CJSC “MCC FINCA” was given a copyright for this programme in October 2012. Course of lectures “Financial literacy” is planned to introduce at the Kyrgyz-Russian Slavic University. Cycles of radio programmes and special rubrics with similar title are created in the mass media.