DUSHANBE, February 22, 2011, Asia-Plus — Measures for stabilization of the financial situation of open joint-stock company (OJSC) Agroinvestbonk have been approved during a meeting of the Agroinvestbonk managers with representatives of the European Bank for Reconstruction and Development (EBRD), according to the Agroinvestbonk press service.
The sides also discussed priorities of Agroinvestbonk’s activities in 2011.
Participation of Agroinvestbonk in financing large investment projects, public purchases for replenishment of national reserves and possible risks were also among major topics of the meeting.
“The EBRD representatives recommended Agroinvestbonk ways how to reduce risks on the basis of qualitatively new approaches with due regard to international practice (joint financing, shift to providing purely commercial loans for these purposes, development of an equity market and so forth),” the source said.
The meeting also discussed existing opportunities and conditions for raising Agroinvestbonk’s capitalization for intensification of its activities in all areas.
We will recall that the EBRD acquired a stake of 25 percent + 1 share for up to 50 million somoni in Agroinvestbonk, which is the second largest commercial bank in Tajikistan. Agroinvestbonk is one of the leading providers of finance to micro, small and medium-sized enterprises and the agricultural sector in Tajikistan. Through its substantial rural network it reaches out beyond the capital Dushanbe, to areas where access to finance remains difficult for private entrepreneurs.
Agroinvestbonk and the EBRD have been working together since 2005 when the bank was included in the EBRD Tajik Micro and Small Enterprise Framework and subsequently joined EBRD Trade Facilitation Program. Agroinvestbonk also joined the EBRD Tajik Agricultural Finance Framework.
Founded in 1992, Agroinvestbonk, with headquarters in Dushanbe, has main branches in Khorog, Khujand, Kulob and Qurghon Teppa and 61 other branches across the country.
