Dushanbe, 21.07.2016. /NIAT “Khovar”/. The European Bank for Reconstruction and Development (EBRD) is providing a local currency loan of up to US$ 2 million equivalent to the Tajik microfinance institution Arvand for on-lending for local micro and small enterprises (MSMEs). This loan is a part of a larger financing package approved for Arvand which also includes an agricultural component.
According to EBRD Mission in Tajikistan, strengthening local enterprises is a key task for the EBRD as it aims to support the countries where it invests to re-energise growth. Access to finance remains a key impediment for the development of a strong and flourishing private sector, and a particular issue for MSMEs who often find access to finance difficult. Loans are also often not available in local currency.  This new EBRD loan is helping to address these key issues.
Arvand is the second largest microfinance institution in Tajikistan with a large distribution network. The company has been at the forefront of innovation and development in the country and is a long-standing partner of the EBRD. Arvands strong network also reaches businesses in remote parts of the country.