Armenia
Azerbaijan
Georgia
Kosovo
Kyrgyzstan
Russia
Tajikistan

FINCA entered Eurasia in 1995, shortly after the demise of the Soviet Union. Although the population is highly educated, widespread unemployment and lack of familiarity with the princples of entrepreneurship and banking have made economic transition challenging. Because the standard of living is higher than in the other regions where FINCA works, FINCA has begun to offer other products, including larger, individual loans, express loans, and insurance. After more than a decade in the region, FINCA operates seven country programs, including the leading microfinance institution in the region, the FINCA Microcredit Company (FMCC) in Kyrgyzstan and serves a total of over 200,000 clients across the region.

FINCA Azerbaijan Many people lost their jobs in the wake of the 1991 collapse of the Soviet Union; others lost their livelihoods and homes due to the war with Armenia. Some 41 percent of Azerbaijanis work in agriculture and 52 percent work in services; the industrial sector employs just seven percent of the population. FINCA clients -- often the breadwinners in their families -- are involved in trade (stands in regional bazaars), farming and production, and services (beauty salons and shoe repair).

FINCA Armenia serves clients in the most remote areas of the country where formal banks do not reach. Many Armenians are creating their own employment through microenterprises.

FINCA Georgia Since its founding in 1999, FINCA Georgia has grown from 4 to 22 offices serving the entire country. The many thousands of small businesses that FINCA supports are a vital part of the economy in a country where the government classifies half the population as poor.

FINCA Kosovo FINCA operates multi-ethnic Village Banks throughout Kosovo's segregated regions. By helping microentrepeneurs of both ethnicities to acknowledge, and work, toward common goals, FINCA plays a vital role in easing ethnic tensions between Serbs and ethnic Albanians. Because of Kosovo society is largely Muslim, male-dominated, and clan-based society. This has made it challenging to reach women clients. But FINCA continues to seek ways to provide more opportunities for women.

FINCA Kyrgyzstan In 2003, FINCA Kyrgyzstan became FINCA Microcredit Company (FMCC), the first formal financial institution for low-income entrepeneurs in the region. FMCC began offering an array of financial services, including life insurance, and now accounts for the majority of microfinance operations in the country. Because women account for 70% of Kyrgyzstan's unemployed, they constitute FMCC's primary client base.

FINCA Russia Russia's weak banking sector and poor business climate, as well as its failure to build a significant body of business law, make it very difficult for microentrepeneurs to succeed. Still, in rural regions, the demand for microfinance is high. FINCA operates in the Krasnoyarsk, Novosibirsk, Samara, Tatarstan, and Tomsk regions, where it provides financial services to farmers and craftspeople.

FINCA Tajikistan offers small loans in a country where the average annual per capita income is $1,200. With 60% of citizens living in abject poverty, these loans go a long way. Limited only by resources, FINCA Tajikistan has the potential to expand successfully throughout the entire country.