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2021-05-06 16:05:22

News

The Microcredit Fund “Refinancing Fund” continues to cooperate with credit financial institutions by providing loans, based on this, on May 5, 2021, a cooperation agreement with the opening of a credit line was concluded with a new client CJSC “Spitamen Bank”.

According to the Bank's prospects, one of the goals of CJSC “Spitamen Bank” is to provide microcredits to various sectors of the economy in remote regions of the country in the medium term, to ensure the functioning of the credit market at low interest rates.

It should be noted that 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 the regulator of the banking system to provide the population with micro and medium loans with affordable interest rates for the development of economic sectors, stimulating entrepreneurial activity, which will help restore competition between credit institutions.

Chairman of the Board of the Microcredit Fund "Refinancing Fund" Rahmonzoda Sharif welcomed the signing of this agreement and emphasized that the loan is provided at a rate of 8% per annum, and from CJSC “Spitamen Bank” will be provided to the final borrower in accordance with a reasonable banking practice.

At the end of the meeting, the Parties discussed the targeted use of the loan and the achievement of the set goals, as well as the continuation of mutually beneficial cooperation.

2021-03-15 17:21:15

News

MCF "Refinancing Fund" took part at Annual General Meeting of Association of Microfinance Organizations of Tajikistan on March 12, 2021, which was attended by members of the association represented by the heads of credit institutions. There had been heard the speeches of AMFOT members in the meeting, as well as approved AMFOT's Activity Strategy and Action Matrix for 2021-2023.

The meeting was attended by representatives of the Fund “Refinancing Fund”, the Director Rahmonzoda Sharif and Chief Financial Officer Sadulloev Dilovar, who presented the Fund's services through a presentation. During the meeting, the goals and objectives of the Charter, credit products and cooperation principles of the Fund with financial institutions of the country were discussed.

It should be noted that representatives of the Refinancing Fund informed financial institutions that in order to fulfill the instructions of the Leader of the Nation and in order to achieve the main goals and objectives of the Fund, the provision of financial services in national currency (somoni) to other credit institutions regulated by the National Bank of Tajikistan, the promotion of entrepreneurship and strengthening the financial system in rural areas, as well as reducing poverty, increasing employment, expanding access to finance for the economically active population, including lending, the Fund reduced the interest rate to 8%.

In execution of the message from the President of the Republic of Tajikistan and in order to implement the main goals and objectives of the Fund, providing financial services in national currency (somoni) to other credit institutions regulated by the National Bank of Tajikistan, promoting entrepreneurship and strengthening the financial system in rural areas, and as poverty reduction, increasing employment, expanding access to finance economically active population, including lending activities, the Fund management reduced the interest rate to 8%.

 

It should be emphasized that the Fund has already begun its cooperation with the credit financial institutions of the country on new conditions.

Moreover, partnership with MCF "Refinancing Fund" makes possible to achieve the following changes with a positive tendency:

  • activation of the direction to support and financing micro, small and medium businesses;
  • growth loan portfolio;
  • reducing the cost of credit resources;
  • managing own currency risks (hedging);
  • increasing competitiveness due to the reduction of interest rates on offered credit products.

For more detailed information, the Fund on the results of participation in the meeting presents its presentation on the website.

/uploads/files/for_websiteAMFOT_presentation_March_12%2C_2021_1%282%29.pdf

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