KHUJAND, February 25, 2009, Asia-Plus  -- 65 percent cotton loans provided by Sughdagroserv (SAS) to local farmers last year for cotton sowing and harvesting campaign has already been repaid, the executive director of the Khujand-based agribusiness company, Sughdagroserv, Abdusattor Haidarov said in an interview with Asia-Plus.

According to him, Sughdagroserv provided 662,000 US dollars to local cotton farmers in loans last year, and they have repaid 430,000 US dollars to this date.  “Loans were provided to farming units at 18 to 20 annual interest for growing cotton and 22 to 24 percent annual interest for growing other agricultural crops,” the executive director said.

He further added that Sughdagroserv had already concluded cotton loan agreements for a total amount of 107,000 US dollars for this year’s cotton growing campaign.

Founded in April 2002 under support of the Partnership for Development of Private Entrepreneurship Project sponsored by IFC and SECO, SAS is wholly owned by farmer shareholders.  The company provides financial, marketing, retail and other services to farmers, manufacturers, and cotton and other agricultural processing firms along the entire chain of the agricultural process.  SAS operates primarily in rural areas of Tajikistan, helping to promote increased income for local farmers by creating opportunities for independent production and commercial farm activity.