Central Asian-American Enterprise Fund
Encyclopedia
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 Asia
n 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.
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.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
government initiative to promote and create private enterprise in the five Central Asia
Central Asia
Central Asia is a core region of the Asian continent from the Caspian Sea in the west, China in the east, Afghanistan in the south, and Russia in the north...
n states of Kazakhstan
Kazakhstan
Kazakhstan , officially the Republic of Kazakhstan, is a transcontinental country in Central Asia and Eastern Europe. Ranked as the ninth largest country in the world, it is also the world's largest landlocked country; its territory of is greater than Western Europe...
, The Kyrgyz Republic, Tajikistan
Tajikistan
Tajikistan , officially the Republic of Tajikistan , is a mountainous landlocked country in Central Asia. Afghanistan borders it to the south, Uzbekistan to the west, Kyrgyzstan to the north, and China to the east....
, Turkmenistan
Turkmenistan
Turkmenistan , formerly also known as Turkmenia is one of the Turkic states in Central Asia. Until 1991, it was a constituent republic of the Soviet Union, the Turkmen Soviet Socialist Republic . Turkmenistan is one of the six independent Turkic states...
, and Uzbekistan
Uzbekistan
Uzbekistan , officially the Republic of Uzbekistan is a doubly landlocked country in Central Asia and one of the six independent Turkic states. It shares borders with Kazakhstan to the west and to the north, Kyrgyzstan and Tajikistan to the east, and Afghanistan and Turkmenistan to the south....
, created from the disbanding of the Soviet Union
Soviet Union
The Soviet Union , officially the Union of Soviet Socialist Republics , was a constitutionally socialist state that existed in Eurasia between 1922 and 1991....
in 1991. It was created in 1994 under the Clinton administration with $150 million in backing expected for the next 3 to 4 years.
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:
- Stephen Solarz, former New York CityNew York CityNew York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
Congressman, as Chairman - Scott Sperling, Managing Partner at Aneas Group;
- Martha Brill Olcott, Professor of Political Science at Colgate UniversityColgate UniversityColgate University is a private liberal arts college in Hamilton, New York, USA. The school was founded in 1819 as a Baptist seminary and later became non-denominational. It is named for the Colgate family who greatly contributed to the university's endowment in the 19th century.Colgate has 52...
; - Jerry K. Pearlman, Chief Executive Officer of Zenith Electronics Corporation;
- Sanford Robertson, Partner at Robertson, Stephens & Company;
- Monica Vachher, formerly President of The Astor Group and at the time of appointment with Bear StearnsBear StearnsThe Bear Stearns Companies, Inc. based in New York City, was a global investment bank and securities trading and brokerage, until its sale to JPMorgan Chase in 2008 during the global financial crisis and recession...
; - Walter White, Partner at the law firm of Quarles & BradyQuarles & BradyQuarles & Brady LLP is a large U.S. law firm based in Milwaukee, Wisconsin. According to the National Law Journal's 2007 rankings, it is the 90th largest law firm in the United States, and the second-largest firm in the state of Wisconsin...
.
which represented a mix of investment banks and advisors (Aneas, Robertson and Astor), the manufacturer Zenith, a lawyer, university professor and a former congressman.