Oikocredit, a Dutch cooperative investment fund, recently reported to MicroCapital the details of recent investments in three microfinance institutions (MFIs) in Central Asia: IMON International of Tajikistan, The First Microcredit Company of Kyrgyzstan and Credit Union ABN, also of Kyrgyzstan. […]
About The First Microcredit Company (FMCC) of Kyrgyzstan: Aga Khan Development Network (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 was an intermediate step towards the conversion into a fully-licensed microfinance bank. As of end-year 2009, FMCC reports to the Microfinance Information Exchange (MIX) total assets of USD 8.8 million, a gross loan portfolio of USD 8.8 million and 11,987 active borrowers.
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