KULOB, April 7, Asia-Plus — Over the first three months of this year, the branch of Tojiksodirotbonk (TSB) in Kulob have provided totaling 10,282,326 somonis (TJS) in loans, which more than two times more than in the same period of last year (4,384,201 somonis), Asia-Plus has learned from Abdukarim Nematov, the head of the TB branch in Kulob.
According to him, the loans have been provided to support enhancement of industrial, construction and transportation sectors as well as development of small and medium-sized businesses in the region.
The totaled included 1,950,100 somonis provided in loans to cotton-growing farms in Kulob and Vose districts. “In January-March 2007, only 303,000 somonis were provided to cotton farmers in these two districts,” Nematov said.
“This year, our bank has supported one of researches of local scientists though providing them a 4,000 somonis loan,” the branch director said, adding that the bank is currently developing the program of financing sectors like culture, education, commerce and public catering.
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.
