KULOB, August 11, 2008, Asia-Plus — A loan portfolio of the branch of TajPromBank in Kulob increased more than ten times in the year to August 1, 2008, reaching 5,153,782 somonis, Yoqubjon Saburov, head of TajPromBank’s branch in Kulob, said in an interview with Asia-Plus.
As of August 1, 2007, the Kulob branch of TajPromBank had provided 522,454 somonis in loans, according to him.
“Through the past year, we have worked on attracting deposits of population,” said Saburov, “Over the first seven months of this year, we have allocated 2,833,507 somonis in loans to fund the cotton sector; of this amount only 311,000 somonis have been provided by the bank’s head office, while the remainder is our funds.”
According to him, they are funding production of cotton in the Farkhor, Vose and Hamadoni districts, totaling 2,962 hectares. In all, they plan to allocate 3,947,452 somonis for funding the cotton sector, the branch head said.
“Of 2,271,781 somonis provided in loans to physical entities since the beginning of this year, not less than 50 percent has been provided to labor migrants seeking better employment opportunities outside the country,” Saburov said, noting that since the beginning of this year, labor migrants have remitted to the branch some 400,000 US dollars and up to 3 million Russian rubles per month.
