KULOB, March 13, Asia-Plus — The branch of Tojiksodirotbonk (TSB) in Kulob today provided the first this year loan for development of private business.
The head of the TSB branch in Kulob Abdukarim Nematov said that the loan of 160,000 somonis had been provided the Kulob confectionery workshop for development of its capacity.
Over the first two months of this year, all 27 enterprises located the city and the district of Kulob have stood idle because of sever electricity shortages that resulted in decrease in the number of loan applications to bank, the branch head said.
“In January-February 2007, we have provided 1.5 million somonis in loans to local business structures,” Nematov said.
He also noted that 1.739 million somonis have to date been provided to farming units in the districts of Kulob ad Vose for cultivation of 1,404 hectares of farmland. “In all, we have to date received from farmers loan applications for a total amount of 4 million somonis,” 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 now 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.
