CURRENT PROJECTS
Azerbaijan & Central Asia Microfinance Transformation Support Project
Azerbaijan and Central Asia Primary Mortgage Market Development Project
Central Asia Corporate Governance Project
Business Plan for Operational Review and Business Plan for Kazakhstan Mortgage Company
COMPLETED PROJECTS
CURRENT PROJECTS
Azerbaijan & Central Asia Microfinance Transformation Support Project
2008 – present
Supported with funds from the Ministry of Foreign Affairs of the Netherlands and IFC
The Project is centered in Almaty and its objectives are to assist and support Micro Finance Institutions (MFIs) based in Azerbaijan, Tajikistan, the Kyrgyz Republic, and Kazakhstan. It focuses on those institutions that wish to transform their activities from being traditionally credit based to being able to provide their customers with a broader range of financial services. Normally these services would include the acceptance of deposits and could also require profiling of institutions before they are able to obtain a full banking license.
In keeping with the IFC strategy for Central Asia, which is to support competitiveness of the private sector in areas with social development aspects such as micro loans to the poor, 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.
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Central Asia Corporate Governance Project
www.ifc.org/cacgp
2006 – present
Supported with IFC funds
The project helps local joint stock companies and banks strengthen their corporate governance practices with a view to improving their operations and increasing their ability to attract investment and financing. In addition, the project works with policymakers to improve the regulatory framework for corporate governance and increase the region's overall investment climate and the business-enabling environment. The project covers Kazakhstan, the Kyrgyz Republic, and Tajikistan.
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Azerbaijan and Central Asia Primary Mortgage Market Development Project
Phase 1, 2005 – 2006, supported with funds from the State Secretariat for Economic Affairs of Switzerland (SECO)
Phase 2, 2006 – present, supported with funds from the Ministry of Economic Affairs of the Netherlands, and the State Secretariat for Economic Affairs of Switzerland (SECO)
The project focuses on improving the housing finance legislative framework in Azerbaijan and Central Asia by building institutional capacity for mortgage lending and raising mortgage awareness. By partnering with policymakers, banks, and key stakeholders in the mortgage market, the project works to increase access to affordable housing in Azerbaijan, Kazakhstan, Kyrgyz Republic, Tajikistan, and Uzbekistan.
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Business Plan for Operational Review and Business Plan for Kazakhstan Mortgage Company
2004 - current
Funded by IFC’s Global Financial Markets Department
In addition to issues identification in the region’s existing housing systems (see Central Asia regional housing finance survey), a key strategy in IFC’s approach to housing sector growth is the establishment of primary and secondary housing finance institutions. IFC has just completed work on a strategy and business Plan for Kazakhstan Mortgage Company. The program consisted of an examination of the demand for a secondary mortgage market in Kazakhstan, a full review of the structure and operations of the existing state owned Kazakhstan Mortgage Company, and an analysis of its future potential for growth and profitability.
