DUSHANBE, November 20, 2015, Asia-Plus – Issues related to implementation of the second phase of Housing Finance Project in Tajikistan were discussed at a conference that took place on November 19 at the Ministry of Economic Development and Trade (MoEDT).

An official source at a MoEDT says the project is being implemented in the framework of the program, Development of Microfinance System in Rural Areas of Tajikistan.

The main objective of program is in providing financial and technical assistance to sustainable banks and microfinance organizations, which can use the received funds to provide loans in the national currency to individual persons for housing finance.

The second phase of the project is reportedly financed due to a grant of EUR 8.0 million provided by KfW Development Bank.

Currently, the first phase of Housing Finance Project in Tajikistan is being implemented and four local lending agencies are participating in the first phase, the source said.

MicroFinanza Rating (MFR) was chosen by KfW as technical partner in the first phase of Housing Finance Project in Tajikistan.

According to MFR, within this project the German and the Tajik Governments agreed on the allocation of a loan of up to EUR 7.0 million to the Ministry of Economy and Trade Tajikistan for on-lending to local financial institutions.

Founded in 2000, MicroFinanza Rating (MFR) is a private and independent international rating agency specialized in microfinance.