FSVC

FSVC Timeline

30 years of transforming financial sectors in the developing and emerging market worlds.

1990
FOUNDED

FSVC is founded at U.S. Presidential Initiative by John Whitehead and Cyrus Vance.
BEGINNINGS

Cyrus Vance and John Whitehead head FSVC lead missions to Poland, Czechoslovakia, Hungary and Yugoslavia. In the early 1990s, FSVC begins work throughout Eastern Europe, as well as in Russia and Moldova.
1993
TRAINING & INTERNSHIPS

FSVC, in collaboration with the Federal Reserve Bank of New York and Fairfield University, trains more than 200 young Russian bankers in market-based banking, followed by internships at commercial banks across the United States.
1994
DEVELOPMENT

FSVC implements first project in Ukraine.
1995
Expansion

FSVC expands beyond Eastern Europe, Russia and Ukraine to other Republics of the Former Soviet Union, including Kazakhstan and the Kyrgyz Republic.
1999
First reach to South East Asia

Following the global financial crisis in 1998, FSVC provides critical technical assistance to Indonesia, delivering recommendations directly to its President.
2001
POST-9/11 URGENCY

A month after 9/11, FSVC Executive Director Andy Spindler and Director John Walker publish an op-ed piece in The International Herald Tribune urging that more attention be paid to improving the financial well-being of people in emerging market countries to address “the economic roots of terrorism.”
2003
First Mission to India

FSVC conducts first mission to India, where it would work for 5 years to increase access to finance for small and medium- sized enterprises, among other key initiatives. FSVC Director and former U.S. Deputy Treasury Secretary Kenneth Dam played an important part in this work.
FOCUS ON THE MIDDLE EAST AND NORTH AFRICA

FSVC sends lead missions to Egypt, Jordan, Morocco and the Gulf region, marking the beginning of work in North Africa and the Middle East. The missions concluded that job creation and support for small businesses should be a critical economic priority.
2006
Continuing Support to Indonesia

FSVC backstops efforts of former U.S. Federal Reserve Board Chairman Paul Volcker, FSVC’s Co-Chairman during 1998-2005, to provide economic and financial policy advice to Indonesia’s leadership.
2007
FIRST MISSION TO SUB-SAHARAN AFRICA

FSVC launches its first major technical assistance mission to Sub-Saharan Africa, in Malawi.
2011
MORE EXPANSION IN AFRICA

FSVC begins program activity in Kenya, Tanzania, Uganda, Rwanda and Burundi, launching a major expansion of program activity in Sub-Saharan Africa.
2012
GROWING FOCUS ON PUBLIC FINANCIAL MANAGEMENT

With support from the U.S. Department of State, FSVC begins major initiatives to strengthen public financial management across North Africa and the Middle East, as well as Sub-Saharan Africa.
2014
BACK TO INDONESIA

FSVC re-engages in Indonesia, establishing a new program to combat financial corruption.
2015
25th ANNIVERSARY

Bill Donaldson becomes FSVC’s Chairman following the passing of John Whitehead. FSVC celebrates its 25th Anniversary with an event for friends and supporters to commemorate a quarter century of accomplishments.
2016
PROMOTING FINANCIAL INTEGRITY IN AFRICA & THE MIDDLE EAST

FSVC continues to expand its work to promote financial integrity, including anti-money laundering and combating the financing of terrorism, throughout Africa and the Middle East.
3000 PROJECTS

FSVC implements its 3000th project.
2017
COLLABORATION WITH BLOOMBERG

FSVC launches program with Bloomberg to strengthen capital markets in East Africa.
2018
FSVC BEGINS WORKING IN LATIN AMERICA

FSVC implements its first project in Latin America with Fedecrédito, a federation of credit banks, in El Salvador to assess the federation’s current AML/CFT system.
2019
NIGER LAUNCH

FSVC wins a multi-million dollar grant from USAID to work in Niger to increase governance accountability, encourage policy reform and strengthen civil society.
2020
30th ANNIVERSARY

FSVC celebrates its 30th Anniversary in the context of the COVID-19 crisis. FSVC’s mission is more important than ever, as reflected by the launch of multiple new programs to promote resilient financial sectors across the emerging market world.
2022
EXPANDING FOCUS ON ANTICORRUPTION

FSVC expands its work in anti-corruption, with landmark programs in Angola, the Democratic Republic of Congo, Eswatini, Lesotho, South Africa and Sudan.

Highlights

1990‐Present

#FSVC30thAnniversary: Interview with John L. Walker, Member of the Board

On the occasion of FSVC’s anniversary, John L. Walker, FSVC Board Member and retired Partner of Simpson Thacher & Bartlett LLP, who has been involved with FSVC since its founding, shared his insights and memories.

2011‐Present

#FSVC30thAnniversary: Interview with Danyelle Gerges, FSVC Regional Director for the Middle East

FSVC is celebrating its 30^th anniversary this year! On this occasion, Danyelle Gerges, FSVC Regional Director for the Middle East, shared her insights and memories. Danyelle has worked with FSVC since 2001 and manages projects on anti-money laundering and combating the financing of terrorism (AML/CFT) as well as public financial management.

2011‐Present

#FSVC30thAnniversary: Interview with Volunteer Expert Julia Mold

FSVC is celebrating its 30^th anniversary this year! On this occasion, volunteer expert Julia Mold, who volunteered with FSVC in Nairobi in 2011, shared her insights and memories.

Looking Ahead

2020

Strengthening Anti-Corruption Efforts and Procedures in Southern Africa

FSVC’s new program will strengthen anti-corruption efforts and procedures in Angola, Eswatini and Lesotho.

2020-2023

Improving Fiscal Transparency and the EITI Standard in Tajikistan

FSVC’s new program will strengthen and systematize reporting on beneficial ownership in Tajikistan.

2020 - Present

Strengthening Efforts to Combat Terrorism Financing in Albania

FSVC has been strengthening the capacity in Albania to combat money laundering and terrorism financing.

September 2020 – March 2022

Promote the Development of Food Commodity Markets in East Africa

FSVC launched a program in 2020 to support the agricultural commodities exchange market in Kenya, Uganda and Tanzania.

2020 - 2023

Development of Effective Regime to Combat the Financing of Terrorism in Jordan

In 2020, FSVC started a program to build an effective regime to combat the financing of terrorism in Jordan.

2020 - 2022

Promoting Transparency and Anti-Corruption in Panama through Greater Budget Openness and Citizen Participation

FSVC’s program started in October 2020 and aims to build the capacity of local civil society organizations to contribute to the national budget process.

Celebrating 30 Years of Strengthening Financial Sectors in Developing Countries

The FSVC global team. Tunis, Tunisia, March 2020

Key Achievements

Millions

3,200

65

10,000

$220,000,000

15,000

FSVC Timeline

30 years of transforming financial sectors in the developing and emerging market worlds.

FOUNDED

BEGINNINGS

TRAINING & INTERNSHIPS

DEVELOPMENT

Expansion

First reach to South East Asia

POST-9/11 URGENCY

First Mission to India

FOCUS ON THE MIDDLE EAST AND NORTH AFRICA

Continuing Support to Indonesia

FIRST MISSION TO SUB-SAHARAN AFRICA

MORE EXPANSION IN AFRICA

GROWING FOCUS ON PUBLIC FINANCIAL MANAGEMENT

BACK TO INDONESIA

25th ANNIVERSARY

PROMOTING FINANCIAL INTEGRITY IN AFRICA & THE MIDDLE EAST

3000 PROJECTS

COLLABORATION WITH BLOOMBERG

FSVC BEGINS WORKING IN LATIN AMERICA

NIGER LAUNCH

30th ANNIVERSARY

EXPANDING FOCUS ON ANTICORRUPTION

Highlights

Looking Ahead