FAMILIARIZATION OF REPRESENTATIVES OF THE GERMAN DEVELOPMENT BANK (KfW) WITH THE ACTIVITIES OF THE MCF “REFINANCING FUND”

On November 20, 2024 representatives of German Development Bank (KfW) represented by Dr. Andreas Schneider - Regional Director of German Development Bank (KfW) in Central Asia, Yasin Ben Said - Senior Manager of German Development Bank (KfW) in Central Asia and Manuchehr Bakoev - Financial - Sector Coordinator of German Development Bank (KfW) in Tajikistan visited the office of MCF “Refinancing Fund”.

The purpose of the visit was to familiarize and evaluate the activities of MCF “Refinancing Fund” for the period of its activity and its operation results.

During the meeting the Director of MCF “Refinancing Fund”, Mr. Rakhmonzoda Sharif, presented a detailed report on the activities of the Fund. It demonstrated that all key financial indicators of the Fund have shown a steady growth trend over the last five years.

The Fund's assets as of October 2024 reached 517 million TJS, which is 4.5 times more compared to 2018, when they amounted to 115 million TJS.

The Fund's balance sheet capital amounted to TJS 417 million, a 4-fold increase compared to 2018 when the figure was TJS 103 million.

The balance of the Fund's loan portfolio is 345 million TJS, having increased 12 times by 315 million TJS.

The number of the Fund's clients increased from 6 in 2018 to 28 in October 2024, showing a 4.67-fold growth.

Dr. Andreas Schneider, having familiarized himself with the achieved results, noted the significant contribution of the Fund to the stable development of the banking system and economy of the country. He also expressed satisfaction with the results of the foundation's activity and confirmed the readiness of the German Development Bank (KfW) for further cooperation and coordination.