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Dushanbe, Tajikistan, February 8, 2012
—IFC, a member of the World Bank Group, is helping Microcredit Deposit-taking Organization Arvand to build an agricultural leasing business, improving farmers’ access to finance and enabling them to make their operations more profitable.
The IFC Tajikistan Agribusiness Finance and Business Environment Project will work with MDO Arvand to help develop its agricultural equipment portfolio in the Istaravshan and Rasulov districts of Sughd Province in northern Tajikistan. IFC will develop a methodology for making leases of agricultural equipment, using IFC’s risk assessment tools, and will assist Arvand staff in making the leases. In addition, IFC will design a training module for Arvand lending officers on the agri-leasing methodology.
“Arvand intends to start leasing agricultural equipment to farmers and agribusinesses in Sughd Province,” said Shoira Sadykova, General Director of MDO Arvand. “IFC will help develop a strong leasing methodology that will enable us to establish an agricultural equipment portfolio while maintaining strong asset quality.”
Raiomand Billimoria, IFC Project Manager, said, “Farmers in northern Tajikistan lack access to finance for agricultural equipment. IFC’s Tajikistan Agribusiness Finance and Business Environment Project will help Arvand enable farmers and agribusinesses to purchase new and efficient machinery, leading to improved productivity and profitability.”
The European Union funds IFC’s Tajikistan Agribusiness Finance and Business Environment Project. The project aims to improve the regulatory and policy environment for agriculture, as well as promote access to finance through a focus on agri-leasing. IFC provides advisory services to financial institutions in order to build capacity for agri-leasing, and assists government agencies to implement reforms that benefit the agriculture sector.
IFC has expanded its investment program in Tajikistan significantly in the last three years with commitments of $27 million in 10 projects in financial markets, manufacturing, and infrastructure. IFC’s advisory program in Tajikistan is its largest in Central Asia. Various programs focus on developing financial markets through credit information systems, microfinance, agricultural finance, and leasing. IFC’s corporate governance program promotes transparency and good governance in larger corporations.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
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About Arvand
Limited Liability Company Microcredit Deposit-taking Organization Arvand, operating since 2002, is the second-largest microfinance institution in Tajikistan. As of today, it has 35 offices throughout the country, over 15,500 borrowers, and 950 deposit clients. With a loan portfolio of 65 million Tajik Somoni, it has one of the best quality portfolios among financial institutions in Tajikistan. For more information, visit
www.mdoarvand.tj
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About the EU
The European Union is made up of 27 Member States who have decided to gradually link together their know-how, resources and destinies. Together, during a period of enlargement of 50 years, they have built a zone of stability, democracy and sustainable development whilst maintaining cultural diversity, tolerance and individual freedoms. The European Union is committed to sharing its achievements and its values with countries and peoples beyond its borders. To this end the EU is active in Tajikistan since 1992 and provides approximately EUR 25 million annually in development assistance. For more information, visit
www.deltjk.ec.europa.eu
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