KHOROG, May 18, 2009, Asia-Plus  -- Over the first four months of this year, branches of banks in Gorno Badakhshan have provided loans for total amount of little more than 12.363 million somoni, which is more than two times fewer than in the same period of last, according to the GBAO regional administration.  Over the first four months of last year, local banks provided more than 26.286 million somoni in loans.

In January-April this year, branches of Amonatbonk (Tajikistan’s savings bank) have provided nearly 4.1 million somoni in loans, Agroinvestbonk’s branch – some 3.6 million somoni, the branch of The First MicroFinance Bank of Tajikistan (FMFB-T) – more than 2.3 million somoni, Orienbonk’s branch – 1.2 million somoni and the branch of the Tojik Sodirot Bonk (TSB) – more than 1 million somoni.

The source at the GBAO administration noted that such a significant reduction in loan volumes in the region had resulted from the fact that the branches had provided loans from their own resources, first of all from population’s deposits.  “Over the report period, the bank branches have not received credit resources from the headquarters,” said he, “The loan receipts are very important for development of the region’s economy, and therefore, local authorities have applied to bank heads, asking them to provide loan resources to their branches in Gorno Badakhshan.”

Another reason for the reduction in loan volumes is non-repayment of loans by recipients.  “Total loan debts in the region have amounted to more than 8 million somoni by May 2009,” the source said.

In the meantime, population’s deposits in local banks increased by nearly 5.7 million somoni in the year to April 30, 2009, reaching some 23.866 million somoni.

In 2008, branches of banks in Gorno Badakhshan provided totaling some 78.5 million somoni in loans, which was 17 million somoni more than in 2007.