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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.

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2025-02-07 16:07:14

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ASIAN DEVELOPMENT BANK REPRESENTATIVES FAMILIARIZED WITH THE ACTIVITIES OF THE MCF “REFINANCING FUND”

 

On February 6, 2025, representatives of the Asian Development Bank (ADB) within the framework of the consulting mission on financing small and medium-sized enterprises (SMEs) led by Senior Financial Sector Specialist Sung Soo Kim and Financial Sector Specialist Monica Yang visited the office of the MCF “Refinancing Fund”.

The purpose of the visit was to familiarize with the activities of MCF “Refinancing Fund”, as well as to assess its potential opportunities for further cooperation to support SMEs.

During the meeting, Mr. Rakhmonzoda Sharif, Director of the MCF “Refinancing Fund”, familiarized ADB representatives with the main activities of the Fund, presented key financial indicators and main achievements over the past years.

During the meeting, the main directions of cooperation and possibilities of its further activation through joint projects were also further discussed.

Having familiarized themselves with the achieved results, ADB representatives noted that the Fund has made a significant contribution to the development of the banking sector, entrepreneurship development, including strengthening of the financial system in rural areas of the country and access to finance. At the end of the meeting, ADB representatives expressed their satisfaction with the results of the Fund's activities and confirmed their readiness for further fruitful cooperations.

 

2024-11-20 10:52:34

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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.