EBRD supports microfinance in Tajikistan, April 2007EBRD supports microfinance in Tajikistan, April 2007
02 April, 2007
4 million loan to The First MicroFinanceBank
The EBRD is extending its successful programme to support micro and small enterprises in Tajikistan by providing a $4 million loan to The First MicroFinanceBank (FMFB). Although it is one of the youngest commercial banks in the country, FMFB has a broad regional outreach. The bank is particularly effective in extending credit to rural areas in which there is limited access to financial services. The loan comes under the Tajikistan Micro and Small Enterprise Finance Facility (TMSEFF), established in 2003 and expanded in 2006, to provide loans to micro, small and medium-sized enterprises.
Since the establishment of the facility more than 18,000 loans with an average value of $3,000 have been provided by end-2006. Loans to female entrepreneurs constitute 41 per cent of the portfolio. Because of its strong rural focus, FMFB provides even smaller average loan sizes of around $1,000 and by working with this dedicated microfinance bank, the EBRD will be able to deepen its outreach. The loan will also help to broaden the impact of EBRD funds ï¿½ in 2006, FMFB itself disbursed almost 10,000 loans.
For more information, please see: EBRD press releases