DUSHANBE, November 3, 2009, Asia-Plus — Governing body of open joint-stock company (OJSC) Agroinvestbonk has decided to put property of farming units that failed to repay their last year’s debts for sale, Asia-Plus has learned at Agroinvestbonk’s head office in Dushanbe.
Thus, production complex in Sughd’s Bobojonghafurov district, technical base and central maintenance facility in Sughd’s Jabborrasulov district as well as cotton-reception unit Pakhtaobod and two agricultural plots in Sughd’s Zafarobod district will be put on auction, the source said. Among the properties to be put up for sale are also residential buildings in Dushanbe and the Shahrinav district.
A total cost of the property that is expected to be put up for sale is some 9,939,016 somoni (equivalent to some 2.3 million U.S. dollars).
Asked about postponement of debt repayments for banks, Mahmadali Ibrohimov, the head of Agroinvestbonk’s aggregate data department, said that they were currently waiting for reply from the government.
According to him, Agroinvestbonk has submitted to the government information about farms that failed to repay their last year’s debts.
Ibrohimov said Agroinvestbonk had asked the government to again postpone last year’s credit repayments. The banks asked the government to postpone repayment of last year’s government credit until July 1, 2010 as well as to freeze the interest on loans for banks.
“The National Bank of Tajikistan has seconded our proposal and sent an appropriate letter on this subject to the Ministry of Finance,” said Ibrohimov, “Besides, the Association of Banks of Tajikistan (ABT) has also sent a letter to the commission under the president. We hoe the issue will be solved positively”
We will recall that of a 140 million government credit provided to cotton farmers through banks last year, 50 million somoni were provided through Agroinvestbonk.
Founded in 1992, Agroinvestbonk, with headquarters in Dushanbe, is the second largest bank in Tajikistan. It has main branches in Khorog, Khujand, Kulob and Qurghon Teppa and 61 other branches across the republic. Agroinvestbonk is one of the leading providers of finance to micro, small and medium-sized enterprises and the agricultural sector in Tajikistan.
