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CARANA Corporation is celebrating its 10th year in Central Asia during a reception at Friendship House on December 5, 2003 in Almaty, Kazakhstan. CARANA Corporation is a United States based provider of global development solutions, and has a branch office located in Almaty.

CARANA Corporation first began its work in Central Asia shortly after the collapse of the Soviet Union, focusing on the demonopolization of distribution systems in Kazakhstan. The challenges were determining how to break up the existing monopoly, how to allow new entrants, and how to privatize existing systems.

According to Eduardo Tugendhat, President of CARANA Corporation and a member of the first CARANA team to travel to Kazakhstan in 1993, “At the time of the Soviet break-up, we knew we wanted to offer our assistance to Central Asia. We felt a strong commitment to the region, and knew it was a place we wanted to stay.”

Since that first visit 10 years ago, Mr. Tugendhat has continued his commitment to Central Asia, as does CARANA Vice President Sarah Helmstadter who lived in Kazakhstan for two years to facilitate the demonopolization process and will also be returning for the reception.

Along with the process of demonopolization, CARANA began implementing accounting reform programs with USAID financing, which led to the adoption by Kazakhstan and the Kyrgyz Republic of International Accounting Standards, re-training and re-certification of thousands of accountants, introduction of new curricula to universities, and helping thousands of enterprises convert their accounting to the new standards while also using the financial data for improved decision making.

The last few years CARANA has been in all the Central Asia countries implementing the USAID funded Education Network. This program has focused on the professional development and training of business and economy professors, while providing better resources, materials and methods for delivering courses. CARANA has also been implementing World Bank and Asian Development Bank funded projects in Tajikistan, Kazakhstan, Kyrgyzstan, and Uzbekistan.

“Since my first trip to Kazakhstan, I have been back at least forty times. Each time I see remarkable change and progress. Each time there are new challenges, frustrations, and obstacles to overcome. But I always look back on the days of November 1993 and focus on how much has been and can be accomplished in this young, dynamic country. We look forward to sharing in the opportunities, challenges, and excitement of the next ten years in Central Asia,” said Mr. Tugendhat.

For over 20 years CARANA has been designing and implementing results-oriented strategies for post-privatization economies in the areas of public sector reform, private sector growth, and human capacity development. Innovative global development solutions have been provided in over 50 countries throughout Latin America, the former Soviet Union, Eastern and Central Europe, Asia, the Middle East, and Africa. CARANA maintains a staff of 200 professionals worldwide, with corporate offices in Arlington, VA, USA and Moscow, Russia.

[Posted November 26, 2003]