February 7, 2009

ACDI/VOCA promotes introduction of microleasing in Tajikistan with IFC

February 2-3, ACDI/VOCA’s USAID-funded Central Asia Microfinance Alliance II program (CAMFA II), the International Finance Corporation (IFC), and the Association of Microfinance Organizations of Tajikistan (AMFOT) conducted a two-day training on “Basics and Specifics of Microleasing Operations” for local microfinance organizations in Dushanbe, Tajikistan. The purpose was to train microcredit specialists on practical skills in preparing and conducting microleasing operations while accounting for relevant legal and tax issues.

Microleasing is a financial services tool that makes it easier for small enterprises or private entrepreneurs who cannot afford to purchase expensive equipment, agricultural technology and other fixed assets at full cost to rent them. Microleasing allows these small enterprises and entrepreneurs to build up their initial capital or expand their business at a lower cost.

“Microleasing is a significant part of the leasing industry in the developed countries while it is quite limited in Tajikistan. We hope that our training would help microfinance organizations in introducing microleasing operations in the country and by that to contribute to the development of micro and small businesses,” said Anastassiya Marina, IFC project manager.

Shulamo Khoshakova, chairman of the AMFOT board, said, “Microleasing is especially important now, in this time of economic crisis, when small businesses need further support in keeping them afloat.”

To find out more about CAMFA II, click here.