Countries
Kyrgystan, Tajikistan, Turkmenistan 

Local project partner
Kyrgystan: National Bank, Banks „Aiyl“, „Bai Tushum“, „Kompanion“, entrepreneurs association
Tajikistan: National Bank, Amonatbank, „Arvand“, „Eskhata“, entrepreneurs association
Turkmenistan: Central Bank, "Rysgal", "Dayhan", "Senagat", entrepreneurs association

German project partner
Ostdeutscher Sparkassenverband
Sparkasse Muldental,
Sparkasse Elbe-Elster,
Sparkasse Mansfeld-Südharz

Donor
BMZ 

Dauer
01.07.2020 - 31.12.2022

Kyrgyzstan, Tajikistan and Turkmenistan remain among the economically weakest countries of the former Soviet republics. All three countries have a very young population, with an average age of 23 to 27. One of the biggest challenges is the difference in living standards between urban and rural areas, where half to three quarters of the population lives.

Economic stability is also affected by the fact that Kyrgyzstan, Tajikistan, and Turkmenistan are particularly vulnerable to external factors such as the effects of climate change due to their geographical location. To increase the resilience of the countries and their rural population, substantial investments in both infrastructure and education are needed. A successful financial inclusion of rural regions can make a sustainable contribution to securing and increasing yields and thus improving the income situation.

The overall objective of the project is to create employment opportunities to improve the living conditions and prospects of people living in rural regions, in harmony with the protection of natural resources. Access to and use of needs-based financial services for the rural population and MSMEs will be improved while increasing financial and entrepreneurial literacy to increase income opportunities and contribute to the resilience of the target group to external influences, particularly to the stresses resulting from the Corona pandemic.

Project Tasks

The project objective is achieved through coordinated project measures on the supply and demand side. Digital solutions play a major role in this. Particular attention is paid to a high-quality transformation of analog consulting and training services into digital processes.

Supply side:

Consulting for state institutions and non-governmental organizations:

• Support for more efficient cooperation between state institutions, non-governmental organizations, the financial sector, and civil society in rural regions.

Advising financial institutions on the

• Development of demand-oriented products
• Improvement of advisory processes
• Improvement of credit assessment possibilities
• Promotion of new technologies in business financing
• Optimization of processing procedures and use of new technologies

Demand side:

• Creation of structures for sustainable financial and entrepreneurial education
• Training the rural population and MSMEs in financial and entrepreneurial education, e.g., by using German Sparkassenstiftung’s practice-oriented Business Games
• Strengthening advocacy through support for networking of stakeholders