KULOB, May 21, 2009, Asia-Plus — Since the beginning of this year, nine microlending organizations operating in Khatlon’s Kulob region have provided loans for a total amount of more then 2.4 million somoni, which is 10 percent of the overall volume of loans provided in the region over the report period,
The mcirolending organizations have been founded in the region over the past 2-3 years, with five of them functioning in Vose and two in Kulob.
The microlending organizations Shuroobod and Rushdi Vose have begun functioning this year. However, they have already provided totaling some 400,000 somoni to 246 borrowers so far for enhancement of agrarian, industrial and transportation sectors.
Local experts say microlending organizations have become deserving competitors of branches of large banks in Kulob on crediting. Fore example, the branch of Tojik Sodirot Bonk (TSB) in Kulob has provided only 50,000 somoni in loans over the first four months of this year.
A total loan portfolio of the microlending organizations rose 100 percent in the year to April 30, 2009 doubled.
