ACTED launched its first microcredit project in Tajikistan’s Vakhsh valley, using microfinance as an efficient tool to help its beneficiaries achieve sustainable economic development. Gradually, development programs and microcredit became complementary instruments within ACTED’s strategy. Even emergency relief projects were sometimes coupled with microcredit operations in order to help beneficiaries to generate their own income. As the living standards of its beneficiaries increased, ACTED developed longer term projects and expanded its microfinance activities.
In 2005 ACTED separated its microfinance operations from development and relief programmes, hence launching the creation of what has become the OXUS Group. This decision resulted from a double objective: on the one hand to comply with the evolving national regulations on microfinance, and on the other to encourage donors and progressively investors to fund OXUS microfinance programs.
As a result, 2005 saw the creation of OXUS Development Network (ODN) and of our first microfinance institution (MFI), OXUS Tajikistan. Since then, two other affiliates have been created and began disbursing microcredit loans: OXUS Kyrgyzstan in 2006 and OXUS Afghanistan in 2007. In the same year, OXUS Holding was set to serve as an investment vehicle for the Group.