DUSHANBE, February 14, Asia-Plus - This year, AgroInvestBonk will have helped develop Tajikistan’s economy through loans totaling 480 million somonis (equivalent to $139 million), which is 60 million somonis more than last year, according to the AgroInvestBonk’s headquarters in Dushanbe.

A source at ArgoInvestBonk said that some $13 million will be provided to finance enhancement of the agrarian sector, which is 45% more than last year.  “Of this amount, more than $7 million will go to restoring productivity and profitability of the cotton industry,” the source said, noting that the remainder is dedicated to promote enhancement of cattle breeding, beekeeping and other agricultural branches, especially in remote mountain areas.  

According to him, the bank in cooperation with international financial institutions is currently working out a number of projects aimed at providing loans for leasing machinery and equipment to enhance the agrarian sector. 

AgroInvestBonk will participate in a $2.5 million project of the European Bank for Reconstruction and Development (EBRD) and a $5 million project of International Finance Corporation (IFC) aimed at promoting agribusiness and leasing machinery and equipment, the source said.  “The other $1.5 million project that will be implemented in cooperation with the Asian Development Bank (ADB) is dedicated to fund microcrediting organizations.”  

Founded in 1992, AgroInvestBonk, with headquarters in Dushanbe, has main branches in Khorog, Khujand, Kulob and Qurghon Teppa and 57 other branches across the republic.