ACGF conducts studies in order to identify the socio-economic context that optimizes access to finance and innovation in the MSME sector.

Empowered by these studies, ACGF analyses the local conditions, adapts international practices and puts them into the local context and provides various solutions to overcome socio-economic, financial and technological challenges. With funding provided to ACGF from MoF under the framework of the World Bank’s Access to Finance Project, a number of studies have been carried out between 2017 and 2020. The studies aim to catalyze innovation and improve outreach efforts among the financial institutions in Afghanistan. In carrying out the respective research ACGF used the professional support of international consultants with expertise in the respective fields.


ACGF’s brochure focusing on its history, credit guarantee scheme, partners, as well as impact on Afghan SME sector has been developed to provide comprehensive information on ACGF and its operations.  

This publication was prepared by Idea Consulting for ACGF under funding by the Ministry of Finance and the World Bank. The study was designed to explore the barriers that prevent the growth of SME businesses owned by women entrepreneurs. The in-depth questionnaire was designed to analyze the first-hand experiences of women, which is combined with a literature review and international best practices. The study presents concrete solutions and methods that actors such as FIs, the government and NGOs can apply in order to promote a better lending environment for women entrepreneurs in Afghanistan.

This publication was prepared as the result of a short-term assignment carried by Lipis Advisors for ACGF. It served as the first step toward understanding how digitalization / innovative financial technologies can help to serve the financing needs of SMEs in Afghanistan. It has identified how the concrete growth needs of FIs in terms of SME lending can be met through FinTech. As a result, concrete FinTech solutions and steps forward were defined.

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