KULOB, February 24, 2011, Asia-Plus — Branches of commercial banks and microfinance lenders operating in Tajikistan have begun to provide their own funds in loans to local cotton producing farms without waiting for the government credit.
As of February 21, branches of Agroinvestobonk in the area, the branch of Tojik Sodirot Bonk (TSB) in Farkhor district as well the First MicroFinanceBank of Tajikistan (FMFB-T) provided a total of 2,798,248 somoni in loans to farms in four cotton producing districts of the Kulob region, Abdukarim Nematov, head of the branch of the National Bank of Tajikistan (NBT), said.
“These loans will be used for cultivation of cotton on 1,859 hectares, but some changes are possible when the government credit is provided,” Nematov said.
He added that Amonatbonk (Tajikistan’s savings bank), Tajprombank and TSB’s branches in Kulob, Vose and Hamadoni district have invested their funds in other sectors this year.
