KULOB, August 18, 2010, Asia-Plus  -- To-date, four cotton producing districts in the Kulob zone of Khatlon province have received only 12.0849 million somoni in loans (equivalent to more than US$2.7 million), which is more than half as much compared to 2009, Abdukarim Nematov, the head of the branch of the National Bank of Tajikistan (NBT) in Kulob, told Asia-Plus today.

In 2009, branches of commercial banks and microfinance organizations operating in the area provided 27.5095 million somoni in loans to local cotton producing farms.

“Of 12.0849 million somoni provided this year, 8.3678 million somoni have been provided by Agroinvestbonk’s branches in the region,” said Nematov, “The branch of Tojik Sodirot Bonk (TSB) in Farkhor district has provided 3.0452 million somoni in loans.”

In the meantime, Amonatbonk (Tajikistan’s savings bank) and Tajprombank have refused to provide loans to local cotton farmers this year.  The main reason is delays in repayment of loans provided in 2008 and 2009.