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Microloans still more often taken for consumer needs in Kyrgyzstan

Microcredit organizations of Kyrgyzstan provided loans for a total of 29.9 billion soms in the first half of 2024. Analysis of the National Statistical Committee says.

The number of loan recipients was about 561,000 people. Compared with the same period in 2023, the number of Kyrgyzstanis burdened with microcredits increased 1.6 times. At the same time, the volume of provided microloans increased by 26.6 percent.

Microloans provided in Bishkek make up 22 percent of the total volume, in Osh region — more than 16 percent, in Jalal-Abad region — 15 percent and in Chui region — more than 14 percent.

More than half (50.7 percent) of microloans were taken by citizens for consumer needs, almost 22 percent were taken for work in agriculture, 12 percent — for activities in trade and public catering, and about 5 percent — for construction.

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