DUSHANBE, October 30, Asia-Plus  -- On Monday October 30, Niyozmurod Saidmurodov, chairman of the board of open joint-stock company (OJSC) AgroInvestBonk, one of largest commercial banks of the country, met with visiting representatives from DEG (German Investment and Development), member of KfW Bankengruppe (KfW banking group) – Mr. Franz-Josef Flosbach, director of DEG, and Ms. Irina Schmidt, assistant of the DEG’s department for Eurasia and Central Asia, Asia-Plus has learned from Muhiba Mahmadjonova, a spokesman for AgroInvestBonk’s headquarters in Dushanbe.

According to her, the sides considered prospects of further expansion of cooperation between AgroInvestBonk and DEG. 

“This company with a loan portfolio of more than 3 billion euros is one of the largest investors in Germany,” the spokeswoman said, “It now successfully cooperates with financial institutions of Kazakhstan and Kyrgyzstan.”  

Mahmadjonova further added that DEG KfW Bankengruppe intends to cooperation with Tajik financial organizations the fields such as long-term loaning, providing subordinate loans, participation in bank capitals, etc.   

            At present DEG is studying Tajik banking system and market for the purpose of establishing productive cooperation and running joint business, the spokeswoman said.  

            DEG (German Investment and Development), member of KfW Bankengruppe (KfW banking group), has been financing and structuring the investments of private enterprises in developing and transition countries for more than 40 years.  DEG is one of the largest European development finance institutions for the promotion of the private sector.  DEG promotes private enterprise in developing and transition countries as a contribution to sustainable growth and a lasting improvement in the living conditions of the local population.  Therefore, it provides long-term capital for private enterprises investing in those countries.  DEG only takes on commitments in projects that make an effective development policy impact, meet environmental standards and comply with social principles.  

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. AgroInvestBonk’s declared capital includes 270,000 shares, valued at 27 million somonis. The face value of one share is 100 somonis.