Browsing by Author "Dr. V.M. Auken"

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    Review of Eurasia Foundation Grants in Microfinance
    (Suleyman Demirel University, 2007) Dr. V.M. Auken
    This paper presents an evaluation of the Eurasia Foundation’s microfinance programs implemented in Kazakhstan and the Kyrgyz Republic through its Almaty Regional Office. The initiatives supported several rural credit organizations, including community loan funds and farmer assistance programs, with a focus on promoting small enterprise development and women’s entrepreneurship. Microloans were primarily issued to self-selected groups of three to seven members, fostering collective responsibility and ensuring high repayment rates averaging 95%. The average interest rate of 32% per annum reflected the developing financial environment of the region. Training in marketing, management, accounting, and microcredit operations equipped borrowers with essential business skills. In Talas oblast, Kyrgyz Republic, the introduction of microfinance led to a substantial increase in cultivated land, with only 1% remaining unused by 2000. The review concludes that these initiatives effectively promoted rural economic growth, enhanced credit discipline, and contributed to sustainable community development.