DUSHANBE, April 26, 2010, Asia-Plus — Open joint-stock company (OJSC) Eskhata Bank and the European Bank for Reconstruction and Development (EBRD) have launched a small and medium enterprises (SMEs) lending project with financial support form the EBRD Shareholder Special Fund and EBRD”s Early Transition Countries (ETC) Fund, press release issued by Eskhata Bank said.
The German/Swiss development finance consultation firm, Business and Finance Consulting (BFC), is providing a technical assistance, according to the press release.
The project provides for offering credit lines for on-lending to SMEs and organizing meetings with large entrepreneurs of the country to make them aware of new credit product.
During two years, BFC will enhance quality of credit services of Eskhata Bank in terms of assessment, approval and monitoring of small and medium-sized loans and conduct a number of training seminars and practical training as well as develop potential and improve procedures of SMEs lending, press release said.
The European Bank for Reconstruction and Development is the largest single investor in Central and Eastern Europe and the CIS. In Tajikistan, the EBRD is supporting the progress of the private sector by fostering development of small and medium-sized enterprises (SMEs) and strengthening the banking sector, in parallel to tackling critical infrastructure concerns. Recent EBRD loans have also assisted in road rehabilitation and construction and strengthened the grassroots economy.
BFC was founded in 2003 by Michael and Marina Kortenbusch. BFC assists microfinance service providers meet the needs of their clients while managing their growth well.
Established in November 1993, a privately owned Eskhata Bank, with headquarters in Khujand, has eight branches in various regions of the country. The bank got operating license in 1994. Eskhata Bank has obtained licenses for conducting all types of banking operations, including foreign currency dealings. The main objective for the establishment of the Bank was to provide private companies and individuals (mostly in the cotton and agribusiness sectors) with access to credit and with a range of diversified banking services.
