MFI Daulet Receives Assistance from CAMFA

The microfinance institution (MFI) Daulet is located in one of the poorest regions of Uzbekistan, the semi-autonomous Republic of Karakalpakstan. Daulet, a legally registered MFI founded by the United Nations Development Programme, has received assistance from the Central Asia Micro Finance Alliance (CAMFA), a USAID-funded four-year project (2002–2006) implemented by ACDI/VOCA, to strengthen its lending operations.

Using CAMFA mini-grants Daulet purchased a fireproof safe, several computers, cash counting machines and filing cabinets to improve staff efficiency and protect important documents. CAMFA is also sending Daulet’s management to training on budgeting and other relevant topics in order to strengthen its internal operations and increase efficiencies. Staff has attended other key microfinance trainings such as Training for Loan Officers and Financial Analysis provided by the Polish Micro Finance Center. CAMFA is also sending several loan officers on a study tour to a leading MFI in the region.

The chief accountant at Daulet, Maksud Sakbergenov, explains the benefits of the CAMFA-sponsored training, “I have participated in budgeting and financial planning training funded by CAMFA and they were some of the best trainings I have ever attended. With skills gained at the trainings, I plan to thoroughly analyze our annual budget and make more accurate projections.”

After careful analysis of Daulet’s immediate and long-term needs, CAMFA is providing funding and technical assistance to transform the institution’s manual accounting and management information systems to state-of-the-art systems. Mini-grants will help Daulet secure an integrated MIS and accounting system to meet its needs, expand and diversify in the coming years.