Background:

Afghanistan Credit Guarantee Foundation ACGF is a charitable foundation aiming at strengthening the private sector by enhancing access to finance for Afghan micro, small- and medium-sized enterprises (MSMEs). To this end, ACGF offers credit guarantees and comprehensive technical assistance (TA) to effectively mitigate risks and to build capacity of financial institutions for MSME lending. Further, ACGF is dedicated to offering direct support services to MSME, including matching grants and business development services. The foundation was established in 2014 with support from the German government, building on a programme launched in 2004 with backing from Germany and the United States to improve Afghan businesses’ access to bank credit.
 

Since August 2021, ACGF has adapted to the evolving landscape in Afghanistan by transitioning to Sharia-compliant guarantees. Despite numerous challenges, ACGF has remained committed to its mission, effectively managing existing guarantees and ensuring continued support for its PIs. In December 2022, ACGF signed the MALA project contract with the European Union, marking the restart of guarantee operations in 2023. In 2024, ACGF signed the EMERGe project with the World Bank  to enhance financial institutions’ capacity and MSMEs access to finance.

ACGF remains committed to its mandate, using credit guarantees as vital tools for mitigating credit risks, providing technical assistance, and offering grants to promising businesses. In Afghanistan’s current situation, ACGF’s support for the private sector is crucial for job retention, income stability, and economic resilience.(20260722)

The Taliban central bank said on Monday, 20 July, 2026, that its deputy governor, Sediqullah Khalid, met Dirk Joseph Thyssen, deputy head of the Afghanistan Credit Guarantee Foundation, in Kabul.