DUSHANBE, April 9, Asia-Plus  -- 30 million somonis (TJS) provided by the government in addition to 110 million somonis to fund the cotton sector have been divided among two banks – Amonatbonk (Tajikistan’s savings bank)  and Agroinvestbonk.  They have received 15 million somonis (equivalent some $4.4 million) each.   

According to Amonatbonk’s head office in Dushanbe, of 110 million somonis provided by the government at the beginning of the year already, the bank received 25 million somonis.  These funds have been provided in loans to cotton-growing farms in 18 districts of the Sughd and Khatlon provinces at 12 percent annual interest. 

15 million somonis provided to the bank in late March brought a total amount of funds, provided by the government to the bank, to 40 million somonis.  In all, the bank has to date provided 30 million somonis in loans to 554 cotton farmers in Khatlon and Sughd.  The remaining 15 million somonis will be provided to farming units in August-September.              

In the meantime, additional 15 million somonis provided to Agroinvestbonk has brought a total amount of funds, provided by the government to it for funding the cotton sector, to 50 million somonis. 

According to Agroinvestment’s headquarters in Dushanbe, the bank has to date provided 39 million somonis in loans to cotton-growing farms in Khatlon (20 million somonis) and Sughd (10 million somonis).  The bank provides loans at 18 percent annual interest.  The remaining 11 million somonis will be provided to cotton farmers in August-September  

We will recall that 110 million somonis provided by the government at the beginning of this year were divided among five banks: Agroinvestbonk; Amonatbonk; Tajprombank; Orienbonk and Tojiksodirotbonk.