COMPLETED PROJECTS
Tajikistan Farmer Ownership Model
Central Asia Leasing Project (PEP)
Improving Microfinance Legislation in Tajikistan and Uzbekistan (PEP)
Technical Assistance to Convert an NGO Micro Credit Provider into a Sustainable Commercial Microfinance Institution
Legal Assistance to the Tajik Government on the Pamir Energy Company Rehabilitation and Privatization
Central Asia Leasing Sector Study (PEP)
Tajikistan Farmer Ownership Model
2001 - current
Supported with funds from the State Secretariat for Economic Affairs of Switzerland (SECO)
The project worked with Tajik cotton farmers to help them establish and run a farmer-owned cooperative, which serves as both a lending facility and marketing coop for its shareholders. The cooperative provides loans on more favorable terms than traditional cotton lending institutions, and helps train Tajik cotton farmers on improved production and management practices.
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Central Asia Leasing Project (PEP)
2001 - 2005
Funded by the State Secretariat for Economic Affairs of Switzerland (SECO)
To develop the leasing sector in the Kyrgyz Republic, Tajikistan, and Uzbekistan, the project trained leasing companies, banks, potential leasing clients, and policymakers on the fundamentals of leasing operations and on conducting financial and risk analysis when making investment decisions. In conjunction with the training, the project advised local and foreign companies on legal, taxation, and accounting aspects of leasing transactions. The project also worked with the private sector, government officials, and legislators to improve the legal framework for leasing operations. The program conducted sector studies to monitor the industry’s development throughout the project’s duration.
The project achieved the following major goals:
· Legislation regulating leasing in Central Asia became one of the most progressive in the former Soviet Union.
· The number of lessors has considerably increased. 32 new lessors entered the leasing market and totaled 38 leasing companies, banks and microfinance institutions conducting leasing operations in the Central Asian countries. Out of three countries, where the project was operational, the most significant growth is observed in Uzbekistan.
· IFC approved $30 million Leasing Facility to finance lessors in Central Asia and Azerbaijan.
· Lease financing provided by commercial operators has resulted in considerable job creation/retaining impact: almost 15,000 jobs were created and over 3000 jobs were retained.
Improving Microfinance Legislation in Tajikistan and Uzbekistan (PEP)
2002 - 2004
Funded by the United States Agency for International Development (USAID)
The project builds on IFC's previous work to develop draft legislation on Microfinance organizations in the Kyrgyz Republic. The project worked with local stakeholders and policymakers to advocate passage of the new law and develop similar legislation for Tajikistan and Uzbekistan, and also built the capacity of the central banks in each of the three countries to monitor these organizations in accordance with the new legislation.
Technical Assistance to Convert an NGO Micro Credit Provider into a Sustainable Commercial Microfinance Institution
2003
Funded by the IFC TA Fund
When the National Association of Business Women in Tajikistan (NABWT), an NGO micro credit provider operating in Tajikistan, asked IFC to help it successfully transform into a commercial microfinance institution with statutory authorization to operate as a deposit taking institution, IFC launched a two-phased advisory program to help.
Phase one was comprised of a study tour to one of the industry’s leading micro-lenders, Acleda Bank, in Cambodia. The training program covered human resource development, marketing of new financial products, and credit, treasury, accounting and payroll, and MIS operations. Phase 2 of the program will consist of regulatory advice and a long-term, on-site expert to assist NABWT with operational and management changes and governance issues.
Legal Assistance to the Tajik Government on the Pamir Energy Company Rehabilitation and Privatization
2002
With funding from the Government of Switzerland
The objective of this technical assistance was to privatize and upgrade a formerly state-owned energy company and at the same time establish a working framework that could be used for the future privatization of the multitude of Government-owned utilities in Central Asia. As a result of the technical advisory work, Pamir was converted to a reliable and environmentally sound supplier of electricity and heat to poor and remote areas. Of crucial importance to the program was the demonstration that a public-private partnership can successfully and profitably provide basic public services to poor and remote areas.
Central Asia Leasing Sector Study (PEP)
2000
With funding from the Government of Japan
A healthy leasing industry is important to the growth of small and medium enterprises, particularly in frontier markets like those in Central Asia. Leasing companies provide small business owners with equipment to run and grow their enterprises without having to make significant capital investments or having to produce an extensive credit history and collateral. The Central Asia Leasing Sector study assessed the existing regulatory framework for leasing in Tajikistan, Kyrgyz Republic and Turkmenistan. It reviewed all regulatory aspects of financial leasing transactions such as taxation and licensing, and produced recommendations for creating a more enabling environment for leasing in each study country.
A full set of draft laws was produced by the consultant, in consultation with IFC, and IFC submitted them as a model for the client governments as they developed this important sector. After this initial study, IFC continued to make gains in leasing reform through its Central Asia Private Enterprise Partnership, and the country of Uzbekistan was added to the program. By 2003, new leasing laws had been enacted in all three countries.
