|Afghan Growth Finance Fund
Recognizing that a dearth of investment capital has so far hampered economic development in Afghanistan, EWV has partnered with the Small Equity Assistance Fund and the Overseas Private Investment Corp to create the Afghan Growth Finance company (AGF)—a US$25 million non-bank finance institution. AGF will provide financial capital to small and medium-sized enterprises in Afghanistan through loans of US$25,000 to US$2 million. Targeted companies include SMEs with a focus on agribusiness, light manufacturing, construction, and consumer goods and services that would otherwise lack or have limited access to capital.
Better access to capital for SMEs will help stimulate economic growth in Afghanistan, resulting in increased levels of employment and economic activity. Sustained economic growth is essential to address not only poverty but also security, stability and reconstruction. As the country moves toward a more promising future, EWV and its partners hope to fill the crucial need for significant loan funds to expand businesses, increase incomes, and improve the quality of life for many.
EWV announced the establishment of AGF in May of 2008. In June, the fund began its initial disbursement of loans.