KHOROG, July 9, 2008, Asia-Plus  -- Over the first six months of this year, the branch of The First MicroFinance Bank (FMFB) in Khorog, Gorno Badakhshan, has provided more than $5.3 million in loans, which is $1.253 million more than in the same period of 2007, Saidsharif Boshkhoujayev, the head o the FMFB branch in Khorog, said in an interview with Asia-Plus.  

According to him, the loans have been provided to more than 3,200 clients.  The major part of loans has gone to supporting development of trade (more than 2.446 million somonis and $1.37 million) and agrarian sector (more than 2.539 million somonis and $1.522 million) in the region.  

Established in 2003, The First MicroFinance Bank was the first commercial bank in Tajikistan with a principal focus on the provision of microcredit lending.  The Bank has a national mandate to provide a comprehensive range of financial services to the poor throughout the country.  In addition to its head office in Dushanbe, the bank currently has four regional branches in Khorog, Gharm, Khujand and Kulob and 32 district offices in rural areas.      

The bank’s shareholders include the Aga Khan Agency for Microfinance, the Aga Khan Foundation Tajikistan, the International Finance Cooperation (IFC) and the Kreditanstalt fuer Wiederaufbau (KfW).