On April 24, 2018, the management of the MLC “Frontiers”, LLC participated in the Round Table on the Implementation of the Action Plan "The Main Directions for the Development of the Microfinance Sector for 2018-2021”, which was organized by the Association of Microfinance Organizations.
Microlending company “Frontiers” is an unique institute of development of the microfinancial sector of the Central Asian region. The company has been established in 2003 by the non-governmental organization ACDI/VOCA which deals with issues of social and economic development in emerging countries.
The main activity of the Company is granting wholesale loans to microfinancial institutions with the purpose of their development and strengthening and increasing access to financial services which are provided by the microfinancial institutions for economically active population.
The “MICROLENDING COMPANY “FRONTIERS”, LLC is registered by Ministry of Justice of the Kyrgyz Republic behind Registration No. 20486-3300-OOO and carries out activity on the basis of the License of National Bank of the Kyrgyz Republic No. 9 from July 25, 2003.
MLC “Frontiers”, LLC reports a decrease of interest rates on standard wholesale loans - up to 16-17% and on loans on terms of KfW program "Financial System Development Program in the Rural Areas" - 15%.
Since 2018 MLC “Frontiers”, LLC has started providing its clients with services of an internal audit on the terms of outsourcing. Within the framework of this work, the shareholders and the Board of Directors of MFI had an opportunity to get acquainted with independent analysis of business processes.
- 737 loans disbursed to our clients in the amount of KGS 5.5 billion
- 130 clients in Kyrgyzstan, Kazakhstan and Tajikistan
- 30 loans received from our partners in the amount of USD 30 million