In October 2018, only a year after its establishment by AFC, the Revolving Fund had already issued 12 new loans to Tajik financial institutions amounting to a total of 10 M Euro.
AFC Agriculture and Finance Consultants GmbH funded a new Micro Loan Fund “Revolving Fund” in September 2017, to promote the financing of the Micro, Small & Medium Enterprises in rural areas of Tajikistan. A fully operational, profitable and sustainable Revolving Fund contributes to the refinancing in local currency of the Tajik Financial Institutions (banks and microfinance institutions), which in turn aim at providing affordable loans to the population for further rural development.
The creation of this independent, profitable financial institution, with an organizational structure corresponding to the requirements of the Tajik legislation and international best practices, and regulated by the National Bank of Tajikistan, constitutes a notable achievement for the Tajikistan Rural Finance Program. The Fund presents great potential to become an efficient and transparent platform for the attraction of additional funds from regional and international donors that would further support the economic development of Tajikistan.
This fund has been supported by the German Development Bank (KfW) as part of the framework of the German regional financial cooperation with the Republic of Tajikistan, funded by German Federal Ministry for Economic Cooperation and Development (BMZ), with additional support of Asian Development Bank (ADB).