When Women Lead, Communities ThriveHow Bailyk Finance is transforming lives in Kyrgyzstan with support from Alterfin

As a microfinance institution that is both women-led and women-focused, Bailyk doesn’t just serve women – it empowers them. Its vision is built around a simple truth: when women thrive, entire communities benefit.

“More than half of our employees and over 50% of our top management are women,” says CEO Chinara Moldazhanova. “It’s likely easier for them to design products suited to women, as they have a better understanding of their needs”.

Chinara and her team are truly proving that financial services can be both inclusive and transformative. But they do not stop there.

Clients receive training in financial literacy, business development, healthcare, and energy-efficient housing. This comprehensive support enables women, like Dinara, to gain greater control over their futures and lives.

“Thanks to Bailyk, I've been able to invest in my business, to buy a house (we didn’t have one before). I’ve also been able to support my children, giving them a higher education,” shares Dinara, a client of the microfinance institution. “It’s been a real help.”

Of course, the journey hasn’t been without challenges.

Bailyk operates in a very volatile economic context, where raising capital has not always been easy. In 2017, Alterfin became Bailyk’s first international lender, unlocking its potential and helping it to grow into one of the most trusted MFIs in Kyrgyzstan.

“Thanks to Alterfin’s support, other investors reached out and started collaborating with us,” explains Chinara, “We were able to attract new investors. Today, with Alterfin leading the way, we now work with 15 international investors and almost all of the major local banks. This partnership created a very positive effect.”

Since our first loan, they expanded from 16 to 50 branches and increased their number of beneficiaries from 8,700 to nearly 57,000, of whom almost 60% are women entrepreneurs.

This commitment to gender equity has driven our operations for the past three decades.

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Learn more about our Gender Lens Investment Strategy

Through our Gender-Focused Investment Strategy, we support partners who not only offer women access to finance but also build inclusive systems from the ground up. Today, we empower the lives of 3.8 million women entrepreneurs.

Read the full impact study of Bailyk Finance

Gain a deeper understanding of how Alterfin’s loans have enabled Bailyk to strengthen the long-term economic resilience of its beneficiaries.