Azerbaijan and Central Asia MicroFinance Transformation Support Project

IFC, a member of the World Bank Group, launched its Azerbaijan & Central Asia Microfinance Transformation Support Project in 2008. The project is being implemented over five years with financial support from IFC (2008-2010), the Ministry of Foreign Affairs of the Netherlands (2009-2011), and Oesterreichische Entwicklungsbank (OeEB) (2010-2012).

Donor Partners
The project’s activity in Azerbaijan and Central Asia is supported with funds from the Ministry of Foreign Affairs of the Netherlands. For more information please visit www.minbuza.nl

The project’s activity in the Kyrgyz Republic and Tajikistan is supported with funds from Oesterreichische Entwicklungsbank AG (OeEB), a private finance institution mandated by the Government of Austria to act as the official Development Bank of Austria. For more information please visit www.oe-eb.at/en

Project Objective
The goal of the project is to support microfinance institutions in Azerbaijan, Tajikistan, the Kyrgyz Republic, and Kazakhstan in their corporate transformation processes and to improve the regulatory framework for microfinance in the region. The project helps to develop a broader range of financial services and increase access to finance for micro entrepreneurs and general population across the region.

In line with IFC’s strategy in Central Asia to support competitiveness of the private sector in areas with social development, IFC brings additionality through the project by aiming to combine advisory services with investment funds. This leverages the effectiveness of both components in enabling MFIs to expand their outreach and services and thereby help their clients to raise their standards of living and improve their livelihoods.