KYRGYSTAN Agricultural Industry
As a hardworking woman with children, this lady was greatfull for the financial support given to her that helped her increase her cattle headcount. She practices agriculture and cattle rearing as her primary source of income. She started this business in 2015 with the aim of helping her family income but can now grow it to become their primary source. She is determined to expand her business in the future and to save up to acquire more cattle.
As a hardworking farmer and her main source of income for her family has been animal farming for the past 11 years. She currently has 5 cows and 10 sheep. A loan helped to buy more cattle to increase her income from cattle breeding and further developing her business. She plans to invest the profits from the cattle she bought with the loan in the expansion of the farm.
Once known as one of the great crossroads of the Silk Road, the mountainous Kyrgyzstan lies in Central Asia. When asking “why is Kyrgyzstan poor?” one of the most important factors to be considered is the severe lack of access to proper banking and financial services. There has been little competition between large commercial banks, and the country has continued to rely on imperfect Soviet methods for accounting and banking.
As a result of these serious issues with the banking infrastructure, many living in Kyrgyzstan do not have access to banking services, preventing investment and economic growth.