KULOB, January 8m 2009, Asia-Plus — As of January 8, 2009, Agroinvestbonk has managed to return only 3.5 million somoni or 19 percent of loans provided to cotton-growing farms in Khatlon’s Kulob region last year, head of Agroinvesbonk’s branch in Kulob Sayfiddin Qadamov said in an interview with Asia-Plus.
According to him, the bank provided totaling 16.202 million somoni, including 13.13 million somoni of the ministry of finance’s funds, in loans to 222 farming units to cotton farmers in Farkhor, Kulob, Hamadoni and Vose districts.
The most successful cooperation of the bank with cotton farmers has been reported in the Farkhor district, where farms have repaid 1.112 million somoni to this date. In all, Agroinvestbonk has provided 4.234 million somoni in loans to farming units in Farkhor.
In the meantime, farms in Kulob, Hamadoni and Vose districts had returned only 10 to 16 percent of the cotton loans so far. “the point is that large cotton-growing farms in these districts are in no hurry to repay the loans because the do not want to realize cotton fiber at the current rates set by the exchanges,” Qadamov said.
