Pipeline Impact Investments

MCC Kemin Kyrgyzstan

Location: Kyrgyzstan
Amount: USD 500,000
Instrument: Equity/Debt
Term: 4-5 years
IRR*: 20-25%
Project Impact: 1,000 new clients

Overview

MCC Kemin is a microfinance and SME finance business based in Northern Kyrgyzstan that specialises in providing small-to-medium sized agricultural loans that are without access to traditional banking.

Impact

Bank credit penetration in Kyrgyzstan is amongst the lowest in the Europe and Central Asian Region. The agency services over 1, 400 clients and plans to expand further by meeting a growing demand for credit from local farmers across the region (agriculture employs 40% of country’s labor force). Key to its competitive advantage is the agency’s provision of flexible loans, deemed too costly by large microfinance institutions. By tailoring repayment schedules around crop cycles, clients benefit from the ability to repay loans once their produce has been sold to market, therefore providing essential capital needed for the harsh winter months before harvest. The company is heavily engaged with local communities, supporting 17 secondary schools across Northern Kyrgyzstan, and has offered 68 scholarships to students so far this year.

Market Opportunity

The business currently has an unmet demand from clients with potential for increasing the loan book and also expansion into neighboring regions. Business growth is anticipated through SME lending with a high quality team in of loan officers already in place. As with our finance investment in Sierra Leone, the business plan sees this organization grow to become a pro-poor bank at the end of 2017

 *All projected IRR’s are exclusive of FX and tax implications 

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