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Central Asian-American Enterprise Fund

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Central Asian-American Enterprise Fund

Central Asian-American Enterprise Fund (CAAEF) was a non-profit corporation funded by a United States government initiative to promote and create private enterprise in the five Central Asian states of Kazakhstan, The Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan, created from the disbanding of the Soviet Union in 1991. It was created in 1994 under the Clinton administration with $150 million in backing expected for the next 3 to 4 years.[1]

It was an extended part of the initiative for Support for Eastern European Democracy Act of 1989 or (the SEED Act) that had been established for Eastern European countries that were leaving the Soviet Federation and was extended to Russia and other new states with the 1992 Freedom for Russia and Emerging Eurasian Democracies and Open Markets Support Act (FREEDOM).

At the time of its formation, the fund's initial Board of Directors included:

which represented a mix of investment banks and advisors (Aneas, Robertson and Astor), the manufacturer Zenith, a lawyer, university professor and a former congressman.

See also

Central Asia

References

  1. ^ http://findarticles.com/p/articles/mi_m1584/is_n30_v5/ai_15767292/ US Department of State Dispatch , July 25, 1994

External links

  • U.S. Missteps Wasted Investments in Central Asian Economies, Critics Say - New York Times
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