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Germany supports enhancement of rural lending in Tajikistan

DUSHANBE, January 28, 2012, Asia-Plus  — On Friday January 27, the Ministry of Economic Development and Trade (MEDT) and the microfinance organizations Arvand, Humo & Partners, Oxus and Feniks+ signed an agreement on providing loans for enhancement of access to financial resources in rural areas of Tajikistan. An official source at MEDT says the Government […]

Payrav Chorshanbiyev

DUSHANBE, January 28, 2012, Asia-Plus  — On Friday January 27, the Ministry of Economic Development and Trade (MEDT) and the microfinance organizations Arvand, Humo & Partners, Oxus and Feniks+ signed an agreement on providing loans for enhancement of access to financial resources in rural areas of Tajikistan.

An official source at MEDT says the Government of Germany has awarded a total of 4.5 million euros in grants to those microfinance organizations.  These funds were reportedly provided under an agreement reached during Tajik-German negotiations in Bonn in 2010.

“The assistance was provided to Tajikistan in the framework of the Rural Financial Systems Development project,” said the source.  “The program is aimed at strengthening of the microfinance sector through supporting micro, small and medium-sized microfinance organizations.”

Germany is expected to sponsor this project in the future as well, he added.  

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