KHUJAND, January 19, 2009, Asia-Plus — A new microfinance-deposit institution, Kiropol-Express, is expected to be opened in the Sughd province soon.
According to the branch of the National Bank of Tajikistan (NBT) in Khujand, Kiropol-Express that received operating license last year will bring the total number of microfinance institutions in the province to 28.
“Of 27 microfinance organizations that currently function in northern Tajikistan, 14 are commercial organizations, 10 others are non-profit organizations and the remaining three are deposit organizations,” the source said, noting that the Sughd microfinance institutions now account for 25 percent of the overall volumes of lending investments in the region.
The first microfinance institutions were established in Sughd in 2005. In 2008 alone, nine microfinance-deposit institutions organizations were established in the province. “The Sughd microfinance institutions mainly operate with funds taken on credit from the US and European financial institutions,” the source said.
