KULOB, October 14, 2008, Asia-Plus — In January-September 2008, the branch of Tojiksodirotbonk (TSB) in Kulob has provided 10,619,198 somoni (TJS) in loans, which is nearly 2 million somoni more than in the same period of last year, the head of TSB’s branch in Kulob Abdukarim Nematov said in an interview with Asia-Plus.
According to him, the main borrowers have been merchants and entrepreneurs. “Over the report period, they have received totaling 5,598,747 somoni in loans,” Nematov said.
“With introduction of a new mechanism of financing cotton farms (through banks), our branch has provided loans of 4,088,739 somoni to farming units in Kulob, Vose and Hamadoni districts of the Khatlon province,” the Kulob branch head said, noting that 3,295,401 somoni have been provided for development of the cotton sector and the remainder has been provided for development grain growing, fishery and bee keeping.
He further added that cotton farmers were repaying their loans. “The cotton farmers have already repaid the first 100,000 somoni,” Nematov said.
TSB was established in December 1990 as the Tajik branch of the Vnesh Econom Bank of the former Soviet Union, and it initially specialized in trade and import-export banking. Later this branch was reorganized into a Joint-Stock Commercial Bank “Tajikvnesheconombank”. In June 1999 the bank was renamed and registered as Tojiksodirotbonk or TSB.
Headquartered in Dushanbe, TSB has 11 branches in the main cities of Tajikistan and covering all regions of the country. Its clients include the biggest Tajik trading companies, other enterprises, entrepreneurs, and some of the embassies and diplomatic organizations based in Dushanbe.
