From the American People
OVERVIEWThe Afghanistan Rural Investment & Enterprise Strengthening (ARIES) program helps to expand access to financial services in underserved regions, particularly in the Alternative Development Program (ADP) areas. The program’s objective is to create a strong private sector foundation for a sustainable, market-driven finance system consisting of different types of financial institutions capable of providing a range of financial services and products, including Shariah-compliant loans. ARIES-supported institutions serve a variety of businesses, from microenterprises (households and smallholder farmers) requiring loans of $1,000 or less to small and medium-sized enterprises (SMEs) with a capacity to create a significant number of jobs.
COMPONENTS AND ACTIVITIES ARIES works with and through a full spectrum of micro and SME lenders across Afghanistan, some previously existing and some established under ARIES. Specific activities, involving both microfinance and SME finance, are carried out by different implementing partners experienced in credit methodologies suitable for the goals of the program under the overall leadership of the Academy for Educational Development (AED).
RESULTS As of May 2009, ARIES has achieved the following by the coordinated efforts of its specialized implementing partners:
PROJECT DETAILS Managed by the Academy for Educational Development (AED), ARIES is a three year, $100 million project that runs from September 16, 2006, through the end of December 2009. The project is implemented through a Leader with Associates (LWA) award and includes the five implementing partners listed above. The original ADP regions in which ARIES works include 24 provinces in Central Afghanistan (Kabul and Parwan); the North (Balkh, Jawzjan, Faryab, Samangan, Baghlan, Kunduz, Takhar, and Badakhshan); the East (Nangarhar, Laghman, Kunar, Ghazni, Logar, Kapisa, Paktya, Paktika, and Khost); South (Kandahar, Hilmand, and Uruzgan); and the West (Hirat and Badghis).
15 January 2010
Since its launch in September 2006 until its closing in December 2009, USAID’s Agriculture, Rural Investment, and Enterprise Strengthening (ARIES) program disbursed more than $130...
15 August 2009
Samangan Province, Afghanistan
The Government of Afghanistan and local communities have limited resources to support sportsmen and sportswomen in remote areas of the country, such as the northern...
31 July 2009
Lashkar Gah, Afghanistan
On July 22, the Afghanistan Rural Finance Company (ARFC) approved a $200,000 loan to an Afghan company in Hilmand Province. The company assists Hilmand farmers...
In late July, the Nangarhar and Helmand Islamic Investment and Finance Cooperatives (IIFCs) began providing medical services to their members. Hundreds of IIFC members in...
15 May 2009
Throughout Afghanistan, women are frequently absent from the world of business and finance. However, there are many motivated women entrepreneurs who strive to gain access...
15 February 2009
Plans are in place to establish a second Islamic Investment and Finance Cooperative (IIFC) in Kandahar, providing essential access to credit for citizens. IIFCs are...
15 November 2008
With the promise of a $50,000 loan from the USAID-supported Afghanistan Rural Finance Company, the Omid Kabul Company plans to do much more than just sell...
15 October 2008
Kunar Province, Afghanistan
On October 8th, officials held the Grand Opening Ceremony for an Islamic Investment and Finance Cooperative (IIFC) in the eastern province of Kunar. The event...
15 September 2008
On September 3rd, USAID supported an advisory session with the community leaders in Uruzgan’s Islamic Investment and Finance Cooperative (IFC). Fourteen community leaders representing eleven...
20 January 2008
On December 26, the Afghanistan Rural Finance Center (ARFC) signed a loan contract for US$228,000 with Saleh Marble Factory in Nangarhar Province. The loan funds...
In The News
9 October 2006
The United States Agency for International Development (USAID) recently awarded the Agriculture Rural Investment and Enterprise Strengthening (ARIES) project in Afghanistan.
22 May 2013
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