KULOB, March 19, 2009, Asia-Plus –In 2008, the branch of Tojik Sodirot Bonk (TSB) in Khatlon’s Farkhor district provided more than 2.3 million somoni of state funds to local cotton farmers and more than 50 percent (1,573,353 somoni) of that has been repaid so far.
The source at TSB’s branch in Farkhor said that the bank had also provided 1,604,459 somoni of its own funds to cotton farmers and 1,021,353 somoni of them have already been repaid.
The source noted that most farmers were not able to able to repay their loans because of the fall in the international price of cotton.
As far as TSB’s branches in Kulob and Vose districts are concerned, 21 cotton-growing farms in these districts have repaid totaling 1,051,518 somoni to the bank so far and they have to repay another 2,525,998 somoni.
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 Tojik Sodirot Bonk. Headquartered in Dushanbe, TSB 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.
