ISFARA, January 21, 2013, Asia-Plus  -- Volume of remittances to the northern city of Isfara reportedly increased in 2012.

According to the Isfara economy and trade department, labor migrants last year remitted 100.3 million USD to branches of Orienbonk, Agroinvestbonk, Amonatbonk (Tajikistan’s savings bank), Eskhata Bank and Tajprombank in Isfara, 3.9 percent or 2.7 million USD more than in 2011.  

Last year, local banks reportedly provided loans for a total amount of 74.8 million USD, which was 50 percent more than in 2011, the source said.

Labor migrants remain a critical component in Tajikistan economy and remittances keep many families in the country above the poverty. 

Tajikistan migration service agency reports that for all of 2012, 877,335 persons left Tajikistan, primarily for Russia, and 673,434 persons returned.

According to the monthly report for January 2013, Monitoring and Early Warning in Tajikistan , unofficial reported remittances in December 2012 totaled 302.4 million USD, 10.8% higher than for the same period in 2011.  Remittances reportedly are running at a higher rate than previous years 10 years, consistent with an increase in out migration.  Based on historic trends remittances are expected to drop through March 2013 due to a seasonal reduction in work in Russia due to cold weather, and many migrants are returning home, the report said.