First Finance Academy Organised by AFC in Tajikistan


The 7th National Microfinance Conference in Tajikistan was held 26th September 2013 in Dushanbe under the title “Access to Finance: The role of investments and innovations”. The Association of Microfinance Organizations of Tajikistan (AMFOT) - as the main organizer of the conference - was supported by the AFC expert team in charge of implementing the Financial Instruments Component of the GIZ Framework and Finance for Rural Sector Development in Tajikistan. The German International Cooperation (GIZ) and KFW Development Bank were hosting the conference, with the support of the National Bank of Tajikistan and Center for Strategic Researches under the President of Tajikistan.

AFC Consultants International - in consortium with the Academy of German Cooperatives (ADG) and Central Asia International Consulting (CAICo) - is currently implementing the two main financial systems development projects financed by the German Federal Ministry for Economic Cooperation and Development (BMZ) in Tajikistan:

  • GIZ Framework and Finance for Rural Sector Development in Tajikistan (Private Sector Development Component and Financial Instruments Component).
  • KfW Rural Finance Sector Programme in Tajikistan (TRFP).

The conference is the only annually reoccurring event organized by and specifically for the microfinance sector in Tajikistan. It allows representatives of Tajik Microfinance Institutions (MFIs) and banks to discuss innovations and most burning issues in the sector as well as providing a forum to learn about international best practices and regional experience.

Mr Buschmeier, Managing Director of AFC Consultants International, facilitated the third session of the conference where innovative solutions such as mobile and Islamic banking were discussed with international, regional and Tajik experts. During the same session, Mrs Laabs, regional director of the KfW office in Tajikistan, presented the results of the AFC-implemented KfW Rural Finance Sector Programme in Tajikistan.

In the framework of the 7th National Microfinance Conference, the GIZ/AFC Microfinance Expert team also conducted the First Finance Academy in Tajikistan for representatives of the microfinance and banking sectors in Tajikistan as well as staff of the National Bank of Tajikistan.

This 5-day training event focused on capacity building needs of mid-level management of financial institutions, specifically in the area of Operational Risk Management (ORM), costing and product development cycles. Mr Woytek, Director of the GIZ Programme “Framework and Finance for Rural Sector Development in Tajikistan”, together with Mr Buschmeier from AFC, formally opened the Finance Academy voicing their hopes that this event will become an institution in the financial sector of the country and will be organized on an annual basis.

Over 30 participants attended this first Finance Academy and were awarded a certificate by AFC’s strategic partner in Financial Systems Development, the Academy of German Cooperatives (ADG). The certificates were handed out in person by Mr Ulrich Pickmeier from the International Department of ADG.