The European Bank for Reconstruction and Development (EBRD) and the state Savings bank of the Republic of Tajikistan, Amonatbonk, agreed to stimulate local currency lending to the real sector of the country, EBRD Resident Office in Dushanbe reported on September 27.
The Memorandum of Understanding (MoU) was signed by Sirojiddin Ikromi, Chairman of the Amonatbonk and Francis Malige, EBRD Managing Director, Financial Institutions.
The MoU allow the EBRD and Amonatbonk to begin joint work, which will enable Tajik financial institutions to provide local currency loans to Tajik micro-, small and medium-sized enterprises (MSMEs) and individual entrepreneurs.
Established in 1885, Amonatbonk is the oldest lender in Tajikistan and currently serves almost 2.5 million customers, including 2.3 million depositors through four regional and 71 municipal branches and around 550 business service outlets across Tajikistan including in the Gorno-Badakhshan Autonomous Region, or GBAO, where the presence of financial institutions is limited.
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 38 economies across three continents. The Bank is owned by 71 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green, resilient and integrated.
In 2023, the EBRD is marking 30 years since Tajikistan joined the Bank. So far, the EBRD has invested more than €900 million through almost 160 projects in the country.
