MFC Signed Strategic Partnership with Country Associations: AMA, AMFOK and UCORA

MFC’s Partnership Programme for Country Associations is a new initiative that is expected to move the cooperation with country level microfinance networks to a new, strategic level.  This week next 3 Associations joined the Programme: AMFOK (Kazakhstan), AMA (Albania) and UCORA (Armenia).

Association of Legal Entities “Association of microfinance organizations of Kazakhstan (AMFOK)” is non-profit organization that aims to strengthen and promote the interests of its members and microfinance sector as a whole. AMFOK is the only industrial alliance that combines the organizations interested on the development of the microfinance in Kazakhstan. AMFOK was founded in 2004 on the initiative of lead microfinance organizations of Kazakhstan. Members of AMFOK are provided more than 85% of the total volume of microcredits issued in the Republic of Kazakhstan. Currently AMFOK gathers 44 member organizations.

AMFOK’s Objectives

  • The development of microfinance sector as a part of the financial system of Kazakhstan
  • Strengthening the capacity, efficiency and productivity of the members of AMFOK.
  • Improvement of legislation in the microfinance field in order to create the sustainable microfinance system in the Republic.

The Albanian Microfinance Association (AMA)  brings together six leading Albanian microfinance institutions (MFIs) representing altogether an outstanding loan portfolio of ALL 13.257.292.608 (appx. USD 120 million) and a number of active clients of 61.818.

AMA’s objectives:

  • Members representation to national or international gatherings, legislative consultations and business events;
  • Support of the technical and institutional consolidation of its members by exchanging best-practices and identifying financial and economic trends etc.
  • Promotion of access to finance, responsible and social financing and the microfinance sector as whole.

The Union of Credit Organizations of the Republic of Armenia (UCORA) is a voluntary union of credit organizations operating in the Republic of Armenia.

Currently UCORA has 11 member credit organizations.

Our mission is to foster the development of financial system of RA through more efficient and overall use of the potential of credit organizations.

The main goal of the Union of Credit Organizations of the Republic of Armenia is to represent and promote general interests and challenges of its members in the Central Bank of RA, Government of RA and other state and non-state bodies, as well as international organizations.

At the moment Programme is started with 8 country level associations: MFO (Macedonia), AMFI (BiH), AMFOT (Tajikistan), AMFA (Azerbaijan), AMFI (Kyrgyzstan), UCORA (Armenia), AMA (Albania) and AMFOK (Kazakhstan).