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Round table of the International Finance Corporation on the assessment of business opportunities for women in the Kyrgyz Republic
Today, a round table of the International Finance Corporation (IFC) was held on the topic “Results of a marketing study on the assessment of women’s business opportunities for the Financial Services Market in the Kyrgyz Republic”, at which the IFC Team presented the results of the study of the potential of women entrepreneurs in the Kyrgyz Republic.
Their research, as well as their experience in financing more than 100 financial institutions around the world with women as their final borrowers, enabled IFC to share the key needs of women entrepreneurs with the Kyrgyz financial sector. According to the World Bank, women’s need for financing in the world is $1.5 trillion, so the role of financial institutions in building the most effective steps to develop women’s entrepreneurship is of the greatest importance. At the same time, the division of needs depends to the greatest extent on the current level of development of the woman’s business, whether she is a start-up entrepreneur, or already has a stable business, or is just planning to create a business.
During the meeting, the potentials for financing women were also presented, which in the Kyrgyz Republic amount to 45.3 billion soms with a holistic transformation of the approach to lending to women, which consists not only in issuing a loan or deposit, but also covering non-financial needs, such as: organizing sectoral events and assistance in finding reliable partners, trainings in financial literacy and business planning, and many others. Thus, the main goal of the financial sector is to identify the current need and provide a solution for the woman entrepreneur.
It should be noted that Bailyk Finance also has many years of experience in cooperation with women entrepreneurs, whose share reaches 60% of all active borrowers. In addition to lending, Bailyk Finance, together with partners, conducts trainings for women on financial literacy and the basics of business, health care, provides material assistance to single mothers, and is also actively involved in industry research and diagnostics.
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