Green Economy of Asian Credit Fund

Published in May, 2017 in magazine “Business view”

Asian Credit Fund (hereinafter referred to as “ACF” or the “Company”) is a microfinance organization registered and acting pursuant to Kazakhstan legislation. Activity of the microfinance organizations in Kazakhstan is governed by the National Bank of the Republic of Kazakhstan. The Company issues the microloans for development of small business and support of households development preferably in rural areas of Kazakhstan.

This year marks the twentieth anniversary of Asian Credit Fund! For the time of its existence as of 31 December 2016 ACF supported by its financial services 99 054 businessmen and households in the Republic of Kazakhstan to the total amount of 19 billion 520 million tenge. The Company is represented by the network comprised of 32 offices in six regions of the country, of which 27 are located in rural district centers. 223 employees have been working in the Company. 97% of the volume of the loans issued by ACF fall to rural areas and 96% of ACF loaners are women. The Company pays considerable attention to non-financial services of targeted audience development. Thus, more than 17 057 loaners of ACF gained the basic knowledge of the financial literacy and 302 rural loaners visited free-of-charge “Start your business” trainings held by ACF.

The twentieth anniversary of the Company coincides with great international event of our Republic EXPO-2017 marked by “Energy of Future”.
Pursuant to five-year strategy of Asian Credit Fund adopted by the Board of Directors in 2015, 2017 was declared the year of “Green” Economy which entailed increase of “green” loans issue for rural population. Ecologically clean or “green” technologies form the basis of “Green” Economy. According to the specialists, development of “Green” Economy will make it possible for our country to avoid environmental crisis which had hit many post-industrial countries. The President of our state predefined high priority for this concept as one of paramount factors on the way of further development of the country. ACF fully supports the strategy of resources saving for future generation and confirms its support by actions.

Thus, in 2012 the Company developed and implemented the special loan product for house and commercial real estate repair with energy-saving components which promotes decrease of heating costs, provides heat retention during the cold season in usual rural houses of our country and reduction of environment polluting emissions. The loan goals include installation and replacement of windows, roof and walls insulation, arrangement of gas heating, replacement of stove heating, use of renewable energy sources (e.g. solar batteries). The maximum sum of the loan is up to 1 000 000 tenge for 24 months term. Since the moment of the loan product launch and as of 31 December 2016, the Company issued 789 loans to the amount of 338 million tenge. Taking energy-saving measures allowed the families reducing utility expenses, positively influencing health of family members and increasing the cost of real estate due to construction/repair operations held.

Within the frameworks of promotion of “green” principles of work, in 2016 ACF installed 20 solar panels in rural office of Saryagash village. Solar panels are connected to the battery and inverter for production and accumulation of electrical power and fully provide the office with electricity. The project has been completed successfully and the office works uninterruptedly due to electricity generated by solar panels.

We would like to note that Asian Credit Fund for twenty years existence gained not only excellent clients-loaners but such reliable and stable partners as Deutsche Bank, Incofin, responsibility, Oikocredit, MicroVest, MCE, as well such organizations as United States Agency for International Development (USAID), BFC Consulting Company. ACF is also a member of Kazakhstan Association of Microfinance Organizations and Polish Microfinance Center (MFC). In 2015 ACF became one of the founders of the World Financial Forum for support of small and medium businesses within the limits of the project of the International Financial Corporation. The activity of the Company is audited by the Big Four of auditor companies. ACF had become the Leader of the National Business Rating for several times, including in such nominations as reliable taxpayer, for high growth indicators. The Company constantly trains its employees and holds charity campaigns in the villages.

ACF implements its plans, ideas and demonstrates high results in spite of such complex economic phenomena as the global recession. During critical period of 2008, ACF managed not only to withstand, but to show growth, that proved yet again strong character and abilities of the Company. Asian Credit Fund confirms twenty years history by facts and figures. Success of the Company lies in work of the strong team, in stable partners and successful strategies the Company adheres to during its activity and until now!