KHUJAND, September 10, 2009, Asia-Plus — According to the Sughd agriculture directorate, only 71 percent of the government credit provided to farmers in northern Tajikistan last year through a number of banks has been repaid to this date.
“Loans were provided to local cotton-growing farms at 18 percent annual rate and the farmers’ loans were supposed to be paid by April 1, 2009,” said the source, “However, taking into the account the fact that the fall in the international price of cotton and in demand for the product hurt many Tajik farmers, the government has decided to postpone debt repayments until November 1, 2009.”
According to him, Sughd banks have provided loans for total of 26.9 million somoni to local farmers this year, which is four times less than last year.
