ACCESS TO CREDIT SERVICES INITIATIVE (ACSI)

Established in 2003, CHF International’s Access to Credit Services Initiative (ACSI) has since become a major factor in the economic reconstruction and stabilization of Iraq. ACSI provides small, affordable loans to Iraqi individuals who do not otherwise have access to sufficient capital. Families use these loans for home improvement or to expand their small-businesses, thereby improving quality of life; enhancing their financial stability and personal safety, and improving local economies in hundreds of communities across Iraq.

ACSI has become the largest microfinance program in Iraq with an outstanding portfolio of more than $30 million, representing approximately 80% of the microfinance market in Iraq.

One of the most remarkable aspects of this program is the fact that ACSI clients repay their loans on time 99% of the time. Operating in 11 governorates in Iraq—including the cities of Baghdad, Karbala, Najaf and Basra—ACSI is bringing economic opportunity to thousands of family-owned businesses across this conflicted nation, in spite of the ongoing instability and uncertainty faced by families and business-owners on a daily basis.

• Disbursed more than $100 million in loan capital
• Placed $13 million in capital in the hands of women entrepreneurs and female-headed houselholds
• Maintained a 99% on-time repayment record
• Stimulated local economic development to create stable employment and financial security for a quarter of a million vulnerable Iraqis.