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DEVELOPMENT OF PROFITABLE COOPERATION WITH FINANCIAL INSTITUTIONS

The MCF "Refinancing Fund"  has decided to implement the directives of the  Founder of Peace and National Unity – Leader of the Nation, President of the Republic of Tajikistan, Honorable Emomali Rahmon, aimed at promoting entrepreneurial activity, reducing loan interest rates, and enhancing public confidence in the country's banking system. The Fund is expanding its operations and increasing financing for microcredit funds.

In this regard, on June 11, 2024, a ceremony was held at the management level of financial institutions MCF "Refinancing Fund" and MCF "Sarvati Vakhsh" to sign a cooperation agreement aimed at opening a credit line. The agreement aims to expand access to financial services for the economically active population of the Khatlon region, foster entrepreneurial development, and stabilize the microfinance sector.

The Fund is prepared to expand its cooperation further and enhance the amount of financing, while also seeking to establish mutually beneficial relationships with other domestic credit financial organizations. It offers long-term loans with competitive interest rates in the national currency to facilitate the realization of future plans. This initiative aims to foster economic development and fulfill the statutory objectives of the Fund.

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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.