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 Network. 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, three MFIs were created between 2005 and 2007 : Tajikistan, Kyrgyzstan and Afghanistan.