Azerbaijan – Central Asia Leasing Facility AS Project

Leasing has been an important source of medium and long-term financing for companies, both in developed economies and in countries with economies in transition. Leasing plays an important role as a means to increase the lessee's asset base. It is a particularly effective financing instrument for private and/or new companies and SMEs, which play a key role in introducing innovation and competition in the economy, and result in job creation.

The International Finance Corporation has a long history financing leasing throughout the world. IFC has invested in more than 100 leasing companies in 50 different countries (35 in Europe, Middle East and Central Asia), and has initiated the establishment of the first leasing company in 25 countries. IFC's total investment in leasing for the last 30 years has been over $1 billion.

In a major effort to strengthen the leasing industry in Azerbaijan, Kyrgyzstan, Tajikistan and Uzbekistan, IFC launched the Azerbaijan Central Asia Leasing Facility (ACALF) Advisory Services activity in partnership with the Swiss State Secretariat for Economic Affairs (SECO). It is a three-year program that will improve private sector economic growth, increase access to finance and create employment through the development of leasing. The project is a complement to the ACALF internal financing facility of $30 million that IFC established to finance lessors in these countries.

The ACALF Advisory Services Project currently provides assistance to 13 participating financial institutions (PFIs) engaged in financial leasing in the region. At the industry level, the Project is working to improve the business climate by removing legal and regulatory obstacles that hinder the viability of leasing. At the institutional level, the Project strives to build capacity and strengthen systems within the individual financial institutions.

Participating Financial Institutions:

Azerbaijan AG Leasing Bank of Baku	Tajikistan Agroinvestbank Tajprombank Tojiksodirotbank First Microfinance Bank Nahust leasing Leasing Finance Commerzleasing
Kyrgyzstan KICB Bai - Tushum	Uzbekistan Hamkorbank Uzbekleasing

ACALF Advisory Services Project is available to consult with foreign and domestic investors, lessors, lessees, and suppliers on all leasing issues in Central Asia and Azerbaijan. Please do not hesitate to contact us with any questions.