The National Bank of Tajikistan (NBT) declares a significant reduction in a volume of non-performing loans (NPLs) in the country. Over the past four year, the share of NPLs in Tajikistan’s loan portfolio has reportedly more than halved.
NBT head Jamshed Nourmahmadzoda remarked this here on November 14 at a meeting with a delegation of the Credit Guarantee Fund Tajikistan (CGFT), according to the NBT press center.
The non-performing loans ratio reduced from 56 percent in 2014-2015 to 26 percent in 2019, Tajik central bank head said.
Nourmahmadzoda noted that a certain work had been carried out to reduce the volume of non-performing loans, increase loan offers and provide repayment of loans.
“As a result of measures taken, the country’s loan portfolio has risen 7.0 percent and the number of number of borrowers has reached 465,000 people,” NBT head noted.
As of September 1, 2019, a total amount of credit investments in Tajikistan amounted to more than 9.2 billion somoni, according to the Agency for Statistics under the President of Tajikistan.
Established in December 2013, CGFT – Credit Guarantee Fund Tajikistan GmbH is an international, Berlin-based company providing specific services to the financial sector of Tajikistan. By providing credit guarantees and technical assistance to Partner Financial Institutions (PFIs) from Tajikistan, CGFT improves the access to finance for Small and Medium-sized Enterprises (SMEs) and helps to create and strengthen employment in Tajikistan.
CGFT, member of the Global Network of Guarantee Institutions (GNGI), is dedicated to supporting the economic recovery and development of Tajikistan by facilitating growth in the SME sector. SMEs have the potential to ensure economic growth, create employment and provide income across the country. CGFT creates favorable financial environment for SME upscaling and expansion. Credit guarantees encourage the natural growth of the economy driven by the existing demands of the SMEs.
