KULOB, January 19, 2009, Asia-Plus — Dehqon (peasant) farms in Khatlon’s Kulob region have repaid 31.49 percent of cotton loans to banks and microcredit lenders so far.
Last year, banks and microcredit lenders provided more than 39.9 million somoni in loans to 659 farms in the region for cotton sowing and harvesting campaign. The totaled included more than 27.4 million somoni provided by the Ministry of Finance (MoF), while the remainder is own finds of banks and microcredit lenders.
The best results have been shown by Amonatbonk’s (Tajikistan’s savings bank) branches. Cotton farmers have repaid 55.61 percent of loans to Amonatbonk’s branches by January 16.
In the meantime, the low rate of return of loans provided by branches of Agroinvestbonk and TajiPromBank evokes serious concern.
Kulob cotton farmers have repaid only 9.54 percent of loans received from Agroinvestbonk and 8.54 percent of loans received from TajPromBank so far. Agroinvestbonk provided more than 5 million somoni in loans to 53 local cotton farmers and TajPromBank provided more than 2 million somoni in loans to local farms last year.
