In 2022, at the initiative of the Associations of Microfinance Organizations of Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan, the Coordination Council of MFI Associations of Central Asian countries was established. Within this framework, a number of projects are planned to implement ESG principles across Central Asia.
The purpose of this initiative is, among other things, to introduce best international ESG practices into the activities of MFIs in each of the participating countries, enhance the skills and competencies of MFIs in corporate governance, improve environmental performance, and increase the social responsibility of the microcredit sector.
As part of the Coordination Council of MFIs in Central Asia, and with the support of the International Finance Corporation (IFC), the second stage of training under the IFC Integrated Program for the Development of ESG Practices in Central Asia is being held in Almaty from August 14 to 16.
The goal of the training is to develop expert knowledge and practical skills in ESG among selected consultants who are expected to work with microfinance organizations (MFIs) in Central Asia (Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan).
Participants of the training will gain up-to-date knowledge and skills necessary to assess the quality of sustainable development management in financial institutions, based on a deep understanding of modern ESG trends and business transformation practices. Participants will learn to:
• Understand and analyze modern concepts and trends in sustainable development and ESG transformation
• Expand their knowledge of the application of the UN Sustainable Development Goals within organizations
• Acquire skills in diagnosing ESG practices of client organizations based on IFC methodology
• Assess ESG risks, taking into account the specifics of MFI corporate governance
Following the training, consultants will implement ESG principles and standards in 20 or more financial institutions across Central Asia over the next 18 months.
Following the training, consultants will implement ESG principles and standards in 20 or more financial institutions across Central Asia over the next 18 months.
Under this program, more than 25 business trainers from Central Asia and Kazakhstan have already been trained. They will gradually implement ESG practices in microfinance organizations within the framework of the Alliance of MFI Associations of Central Asian countries (Kazakhstan, Kyrgyzstan, Uzbekistan, and Tajikistan).
From Kazakhstan, more than 20 microfinance organizations — members of AMFOK — will participate in a pilot project to integrate ESG principles into their operations.
It is encouraging to see the first significant results of the cooperation between the four associations and the outcomes of their joint work.
We hope that together we will achieve the desired results in building a transparent, socially responsible, and professional microcredit market that meets modern ESG standards and global best practices!
We would also like to thank our colleagues from the MFI associations of Kyrgyzstan, Uzbekistan, and Tajikistan for the friendly and productive format of collaboration.
Special thanks to the team of the International Finance Corporation (IFC) for their methodological support and assistance in organizing this training!
Republic of Kazakhstan, 050004, Almaty, st. Gogol 111, office 610
amfok.coordinator@gmail.com
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