International Finance Corporation – Azerbaijan-Central Asia Financial Markets Infrastructure Advisory Services Project

Print Friendly
Project Status: Active
Project at-a-glance
Project Name Azerbaijan-Central Asia Financial Markets Infrastructure Advisory Services Project
Sector/Subsector Finance
Country Kyrgyz Republic
Project Opening Date 2009
Project Closing Date Present
Responsible Institution
Responsible International Financial Institution International Finance Corporation
Objectives
Strategic Agenda

To strengthen financial market infrastructure in Azerbaijan, Kyrgyz Republic, Tajikistan, and Uzbekistan by developing effective credit information sharing.

Description

The Project aims to strengthen financial market infrastructure in Azerbaijan, Kyrgyz Republic, Tajikistan, and Uzbekistan by developing effective credit information sharing. It will also introduce formal risk education and certification for financial institution employees. The Project should help financial institutions make fast and accurate credit decisions, thereby increasing the availability and affordability of financial services for individual consumers, as well as for micro, small, and medium enterprises (MSMEs) in the region.

IFC has a successful track record in developing and improving financial infrastructure worldwide. Specifically, IFC has significant experience in developing credit information sharing systems in many countries across the globe. Since 2001, IFC has supported the development of credit bureaus in more than 40 countries through advice and investment.

The Project aims to:

  • Improve and implement the legal and regulatory framework;
  • Build the capacity of financial intermediaries;
  • Build the capacity of credit bureaus;
  • Enhance professional risk management certification; and
  • Raise awareness on the importance of credit bureaus through public education campaigns and outreach work.

Key Achievements:

  • The code of conduct developed by the Project was adopted by all major stakeholders, including the National Bank of the Kyrgyz Republic (NBKR), and became effective on January 1, 2012.
  • The Project prepared a comprehensive report for Credit Information Bureau Ishenim on how to operate its business in a sustainable manner by transforming into a commercial entity.
Source of Funding
  • International Finance Corporation
  • The government of Switzerland
Amount of Funding N/A
Project Outcome

Increased energy efficiency in industrial sectors

Business Opportunities
Consulting Services

N/A
For possible business opportunities visit eConsultant2

Procurement

N/A
For possible business opportunities visit eConsultant2

Contact Information of International Financial Institution
Organization/Department International Finance Corporation
Name Zarina Odinaeva
Address Business Center Orion, 4th floor, 21 Erkindik Boulevard
Province/State Bishkek
Postal Code 720040
Country Kyrgyz Republic
Phone +996 (312) 626 162
E-mail

ZOdinaeva@ifc.org

Website

www.ifc.org