Kazakhstan: MFC Engages in a New Public-Private Initiative to Support Microfinance

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Mar 2011
Astana, Kazakhstan, March, 03 2011 - MFC, together with Fund for Financial Support of Agriculture in Kazakhstan are founders of the Center for Assistance to Microcredit Organizations (CAMCO).

Official launch took place on February 22nd, in Astana. The event brought together representative of the Ministry of Agriculture, Finance, Economic Development and trade, Parliamentarians, AMFOK, banks, insurance companies and microfinance institutions.

Madina Bainiyetova, the CEO of CAMCO: Our goal is to develop an effective system of technical support to small MFIs in the rural and urban areas of Kazakhstan. Currently, there are over 1,700 small MFIs in Kazakhstan. Most of them do not have access to any support services. This is a first initiative in Kazakhstan to ensure an on-going professional support to the microfinance sector.

Elnura Mametova, MFC Manager for Central Asia: CAMCO is a unique project developed with the support and in partnership with the Government of Kazakhstan and MFC. MFC will contribute know-how in the curriculum development and support trainer and consultant certification. This is an important initiative that will enable MFC further decentralize and develop capacity of local organizations working on improving financial access.

 

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