The Central Asian-American Enterprise Fund (the “Fund”, or “CAAEF”) was incorporated in 1994 as a not-for-profit corporation formed pursuant to the Support for East European Democracy Act of 1989 (the “SEED Act”) and the Freedom for Russia and Emerging Eurasian Democracies and Open Market Support Act of 1992 (the “Freedom Act”) to encourage the creation and expansion of small and medium-sized enterprises in the Central Asian Republics of the former Soviet Union (Kazakhstan, The Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan).
Following 8-years of extensive proactive efforts to support the growth and well being of the private business sector in Central Asia, The Fund commenced a wind-down plan in 2002, and achieved an orderly liquidation of its investment and loan portfolios (with operational closure of its offices in Central Asia) in 2004.
During its active operating years, CAAEF entered into 27 joint ventures with equity (or equity plus debt) financing totaling $61.5 million, granted 352 loans to establish or expand small and medium-sized enterprises (“SMEs”) totaling $37.3 million, extended 8 direct loans totaling $8.0 million (that by size or type fell beyond the terms of The Fund’s SME Loan Program), and funded more than 3,000 micro-credit loans totaling $10.4 million.The Fund’s direct investments, SME and micro-loan programs, and technical assistance activities were directly responsible for:
In 2007, CAAEF filed formal notice of dissolution, closed its only remaining office, and announced the formation of the U.S. - Central Asia Education Foundation (the “Foundation”), a not-for-profit corporation, to be funded by a grant of approximately $15.5 from the Fund to continue its work in Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan, by providing educational opportunities in business and undertaking other activities to cultivate a principled entrepreneurial environment in Central Asia that fosters the growth of free enterprise and open markets.
The Foundation intends to focus on three Enterprise Fellowship programs:
DIRECTORS AND OFFICERS OF THE FUND
The Board of Directors:
Although the Fund is no longer operating, any need to contact the Fund may be accomplished by mail, telephone, fax, or email as follows:
Central Asian American Enterprise Fund