EDB to Allocate $2.6 Million to Support Small Businesses in Tajikistan

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The Eurasian Development Bank (EDB) will allocate $2.6 million to support micro and small businesses in Tajikistan. Funds for the development of private business in the manufacturing sector, agriculture, as well as in the trade and services sectors will be provided to borrowers through the financing of CJSC Microdeposit Organization Imon International, reports the EDB Press Service.

The relevant agreement was signed by the Deputy Chairman of the EDB Board Ruslan Dalenov and the Chairman of the Board of CJSC Microdeposit Organization Imon International Andrey Palka. The signing ceremony was held as part of the presentation of the EDB Country Strategy in Tajikistan for 2022–2026.

In order to reduce the cost of borrowed funds for their final recipients, the Bank subsidizes the interest rate under the program of the Technical Assistance Fund.

“One of the objectives of the EDB strategy in Tajikistan, which we presented today, is the development of the private sector and entrepreneurship. EDB focuses on providing credit lines to local financial institutions to support SMEs for on-lending to local businesses. In many ways, we are talking about organizations involved in the creation and development of agro-industrial clusters,” said Dalenov.

 

Source:  National information agency of Tajikistan