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On May 4, 2021, the Microcredit Fund “Refinancing Fund” signed a loan agreement with the CJSC “International Bank of Tajikistan” in order to support the expansion access of the economically active population to financial resources, develop entrepreneurship and provide micro and medium loans to rural areas of the country.

The allocated funds of the Microcredit Fund "Refinancing Fund" are aimed to fulfill the instructions of the Founder of Peace and National Unity, Leader of the Nation, President of the Republic of Tajikistan Emomali Rahmon and to achieve the main strategic goals of the Fund, to provide financial services in national currency (somoni) to credit institutions, promoting the development of entrepreneurship and strengthening the financial system in rural areas, as well as for reducing poverty, increasing employment, including crediting to micro, small and medium-sized entrepreneurs in various sectors of the economy.

 It should be noted that within the bilateral cooperation framework between the MCF "Refinancing Fund" and CJSC "International Bank of Tajikistan" loans are provided at a rate of 8% per annum, which creates a favorable basis for credit institutions to provide loans at low interest rates to the final borrower in accordance with a reasonable banking practice.

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2023-12-13 16:09:47

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Financing of Gorno-Badakhshan Autonomous Region

Microcredit Fund “Refinancing Fund”, in order to implement the instructions of the Founder of Peace and National Unity - Leader of the Nation, President of the Republic of Tajikistan, his excellency  Emomali Rahmon, in the direction of promoting the development of entrepreneurial activity, reducing interest rates on loans and increasing public confidence in the banking system, is expanding the scope of its activities laid the foundation in financing in the Gorno-Badakhshan Autonomous Region.

To further enhance access to financial services for the economically active population in the Gorno-Badakhshan Autonomous Region and bolster entrepreneurial activity while ensuring the sustainability of the microcredit sector, a ceremony was conducted on December 13, 2023, to formalize a loan agreement between the MCF "Refinancing Fund" and the MCF "Madina."

During the agreement signing, Mr. Rakhmonzoda Sharif, Chairman of the Management Board of the MCF “Refinancing Fund”, highlighted that this move establishes the groundwork for providing preferential loans within the the Gorno-Badakhshan Autonomous Region. The Fund is poised to broaden its collaboration, amplifying financing within this region. It aims to forge mutually advantageous partnerships with other local credit institutions, extending long-term loans at favorable interest rates in the national currency. This initiative aims to support the realization of their prospective endeavors.

This initiative contributes to the development of the country's economy and the achievement of the statutory goals of the Fund.

2023-12-07 10:32:33

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GRATITUDE OF THE MANAGEMENT OF THE ICF "REFINANCING FUND"

On December 7-8, 2023, a Financial Forum was held at the Hyatt Regency hotel, organized by the Association of Microfinance Organizations of Tajikistan on the topic “Regional cooperation as a key factor in strengthening financial infrastructure and expanding access to capital markets.”

Representatives of the Government of the Republic of Tajikistan, the Ministry of Finance of the Republic of Tajikistan, the Ministry of Economic Development and Trade of the Republic of Tajikistan, the National Bank of Tajikistan, International financial organizations, heads of financial institutions and insurance companies took part in this Forum.

The main topics discussed at the Forum were: regional cooperation, digitalization and the use of new financial instruments in the field of financial services, trends in the digital transformation of financial infrastructure - opportunities for market development, financial inclusion, etc.

At this Forum, the Head of the Department for analysis and attraction of investments of the MCF “Refinancing Fund”, Juraev Bekhzod Mashrabovich, made a report on the topic “The contribution of the MCF “Refinancing Fund” to financing the activities of small and medium-sized businesses.”

During the forum, financial institutions and their staff who made a significant contribution to the development of the microfinance system were awarded the “Excellence in Microfinance” and “Diploma of Honor” awards.

In particular, the Director of the MCF “Refinancing Fund” Rahmonzoda Sharif was awarded a Certificate of Honor from the Deputy Chairman of the National Bank of Tajikistan, the Honorable Gulbahar Naziri, for his significant contribution to the development of the country’s banking system and the successful implementation of the Fund’s activities.

2023-11-23 14:34:17

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Celebration of the State Flag Day

The staff of the MCF "Refinancing Fund" extend sincere congratulations to all Tajik people on State Flag Day and convey heartfelt wishes for happiness, good luck, success, and victories.

The State Flag of the Republic of Tajikistan serves as a symbol of the nation's freedom and independence, representing its democratic and legal system, along with embodying the highest ideals of civilization, creativity, and the ongoing pursuit of freedom and independence. Aligned with the Constitution, the Coat of Arms, and the National Anthem, the State Flag holds significance as one of Tajikistan's primary symbols.

The State Flag stands tall as a symbol of unity, integrity, and friendship for the proud Tajik people. It holds a pivotal role in nurturing patriotism, fostering pride, and instilling a strong sense of national identity among the younger generation.

The Founder of Peace and National Unity - Leader of the Nation, President of the Republic of Tajikistan, honorable Emomali Rahmon rightly underlined that "Every individual should take pride in our State Flag, as it stands shoulder to shoulder with flags from diverse nations worldwide. It symbolizes peace and conveys a message to the world about the existence of a cultured Tajik nation, a full-fledged member of the global community - an independent Tajikistan."

It remains crucial to strive for our State Flag to continually evoke pride in every responsible citizen, bolstering our nation's independence and safeguarding its accomplishments.

May the State Flag of the Republic of Tajikistan forever radiate as a beacon of everlasting pride for the nation, reflecting love and unwavering loyalty to the esteemed Tajik people in their relentless pursuit of sovereignty and prosperity for our cherished Motherland.

Wishing a joyous celebration on the National Flag Day of the Republic of Tajikistan!

2022-05-30 11:23:42

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The contribution of the banking sector to support the development of micro, small and medium-sized businesses in rural areas of the Republic of Tajikistan

 

There was held the ceremony of signing the Agreement on bilateral cooperation with the opening of a credit line between the MCF "Refinancing Fund" and CJSC MDO "IMON INTERNATIONAL" on May 11, 2022. The agreement was signed by the Chairman of the Board of the MCF "Refinancing Fund" Sharif Rakhmonzoda and the Chairman of the Board of CJSC MDO "IMON INTERNATIONAL" Andrey Yaroslavovich Palka.

The Agreement will stimulate the field by creating favorable and acceptable conditions for obtaining financial support for micro, small and medium-sized businesses, which, in turn, is one of the priorities of the two organizations.

MCF "Refinancing Fund" and CJSC MDO "IMON INTERNATIONAL" through a credit line will try to expand the access of the economically active population to financial services in remote regions of the country, which will strengthen micro financing in rural areas. This agreement is an important milestone in the context of the banking and financial sector, that indicates the positive dynamics of conducted changes and meet the requirements of international financial institutions.

The Chairman of the Board of the MCF "Refinancing Fund" Sharif Rahmonzoda noted that the Fund is ready to establish mutually beneficial cooperation with other domestic financial institutions by providing them with long-term loans at affordable interest rates in the national currency, which will contribute to create conditions for sustainable development of the country's economy.

 

2022-05-18 11:21:17

News

There was held the ceremony of signing bilateral Agreement between the Microfinance Fund "Refinancing Fund" and CJSC "Bank Arvand" on May 6, 2022, which cooperating for many years. The agreement was signed by the Chairman of the Fund Sharif Rahmonzoda and the Chairman of CJSC "Bank Arvand"  Shoira Muzaffarovna Sodikova.

In order to support domestic financial institutions, expand the access of population to financial services and develop small businesses, the Fund opened a credit line to CJSC "Bank Arvand"  for 3 years. The allocated funds will be used for crediting micro, small and medium-sized businesses, as well as for the development of the financial system in remote regions of the country, which will increase the access of population to relatively cheap credit resources. The agreement will allow CJSC "Bank Arvand" to stimulate the field by creating favorable and acceptable conditions for obtaining financial support, which will make a valuable contribution into the strategic development of entrepreneurship in the country.

MCF “Refinancing Fund” and CJSC “Bank Arvand” will take advantage of the favorable opportunity and strengthen their cooperation on the basis of mutually beneficial trust, which will undoubtedly have a positive impact on the development of entrepreneurship in the country.

It should be emphasized that during the signing of the Agreement, the Chairman of the Fund Sharif Rahmonzoda noted that the MCF "Refinancing Fund" is ready to establish mutually beneficial cooperation with other domestic financial institutions by providing them with long-term loans at affordable interest rates in the national currency, which will contribute to the development of the country's economy and achieve statutory goals of the Fund.

2022-02-03 10:58:58

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In order to support credit financial institutions, expand access to financial services for the economically active population, develop entrepreneurship and strengthen the microfinance sector in the country MCF " Refinancing Fund" signed a Cooperation Agreement with LLC MCO "Oxus" on January 31, 2022. This process facilitates the population's access to relatively cheap credit resources.

The provision of long-term loans to micro, small and medium enterprises through credit financial institutions will also contribute to the development of country’s remote regions, which lays the foundation for the development of the country's economy.

It should be noted that LLC MCO "OXUS" is a financial credit institution, which is considered as a continuation of the ACTED project on micro crediting and has a special place in the country's financial market since 2006. Due to the coverage of the regions, this credit organization has its branches in almost all cities and regions of the country, which can become a real basis for the implementation of the statutory goals of both the credit organization and the Fund.

The MCF “Refinancing Fund”, within its competence, continues to establish fruitful cooperation with credit financial institutions which regulated and controlled by the National Bank of Tajikistan, and provide them with long-term loans at affordable interest rates in the national currency to implement their plans for the future, which contributes to the development of the country's economy and the achievement of its statutory goals.

 

 

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