To support enhancement of the country’s agrarian sector, Amonatbonk (Tajikistan’s savings bank) has been providing preferential loans representatives of small and medium-sized businesses as well as entrepreneurs from among labor migrants who returned to the country.
According to information posted on the Amonatbonk’s official website, the preferential loans are provided in order to improve the welfare of the citizens of the country and promote the development of the agrarian sector.
The loans are provided only in the national currency, the somoni (TJS). The loans up to TJS100,000 are provided for 36 months with grace period of six month at the annual interest rate of 10 percent.
This new loan product is called “Kishovarz” (Agrarian). The loan is provided to support farming, the purchase of seeds and mineral fertilizers, provide irrigation for crops, support development of gardening, poultry farming, beekeeping and so forth.
The loan is reportedly provided on the security of movable and immovable property.
There is also an age limit for citizens wanting to get the “Kishovarz” loan; only citizens aged 18 to 65 only citizens can get this loan.
Last year, customers of Tajikistan’s savings bank could get loans in the amount from 3,000 to 500,000 somonis both in national and foreign currencies for period from six to thirty-six months. The loans in the national currency were provided at the annual interest rate of 18 percent and the loan in the U.S. dollars were provided at the annual interest rate of 8.0 percent.
…Meanwhile, Asia-Plus has asked about the interest rates for lending to farmers from other banks. It turned out that they issue loans on average at the annual interest rate of 24-32 percent or even higher.
Amonatbonk is the only state-owned bank. Established in 1925, it is one of the oldest banks in Tajikistan and one of the largest based upon various criteria – including the number of branches and the number of served clients.
The institution is unique in its orientation towards implementing social, pension and other state programs. Amonatbonk has 5 regional centers, 69 branches and more than 500 agencies. This gives the institution a presence in the most remote mountainous parts of the cou
