KHOROG, July 7, 2009, Asia-Plus  -- Banks in Gorno Badakhshan have halved loan allocations.

The branch of the National Bank of Tajikistan (NBT) says that over the first six months of this year, commercial banks operating in the region have provided 21 million somoni in loans, which is two times fewer than in the same period of last year.

“Thus, the branch of the First MicroFinanceBank of Tajikistan (FMFB-T) in Khorog over the report has provided loans for a total amount of only 5.8 million somoni, while in January-June 2008, it provided 18.3 million somoni in loans,” the source at NBT’s branch said, adding that branches of Agroinvestbonk and Amonatbonk (Tajikistan’s savings bank) have also nearly halved loan allocations over the same six-month period.

In the meantime, the volume of loans provided by Tojik Sodirot Bank’s branch in Khorog over the report period has remained at the January-June 2008 level and Orienbonk’s branch have even increased loan allocations by 600,000 somoni.

According to the source, large loan debts are the main reason for significant decline in loan allocations in the region.  “Only some 60 percent of earlier loans haves been repaid to this date, and therefore, commercial banks have temporarily suspended allocation of centralized loan resources,” said he, “” New loans are provided as the branches’ own resources are replenished.”