"Tajik Bank 'TSB' Supports Development of Fishery in Kulob

 

Yahoo! Asia News // Wednesday July 9, 5:15 PM  http://asia.news.yahoo.com/080709/4/3lx9z.html

 

KULOB,Tajikistan, July 9 Asia Pulse - The Kulob branch of Tajik bank Tojiksodirotbonk (TSB) has allocated a loan to the farming unit named after S. Nazarov in the outskirts of Kulob, Abdukarim Nematov, the head of the TSB branch in Kulob, said in an interview with Asia-Plus.

The bank has provided 10,000 somonis (US$2,923.98) for the first phase of the project.

Nematov noted that he TSB branch in Kulob has also supported development of bee keeping in the region through providing some 20,000 somonis in microloans for development of apiaries. Among the main customers of the bank in Kulob are industrial enterprises, builders, transportation enterprises, merchants, and cotton farmers.

Over the first six months of this year, the TSB branch in Kulob has provided totaling 8,036,242 somonis in loans, which is nearly 1 million somonis more than in the same period of last year. Of this amount, 2,983,880 somonis have been provided to agrarian sector, with nearly 25 million somonis having been provided to cotton-growing farms, Nematov said.

Entrepreneurs and merchants have received totaling 4,096,173 somonis over the report period, according to him.

TSB was established in December 1990 as the Tajik branch of the Vnesh Econom Bank of the former Soviet Union, and it initially specialized in trade and import-export banking. Later this branch was reorganized into a Joint-Stock Commercial Bank Tajikvnesheconombank. In June 1999 the bank was renamed and registered as Tojiksodirotbonk or TSB.

Headquartered in Dushanbe, TSB has 11 branches in the main cities of Tajikistan and covering all regions of the country. Its clients include the biggest Tajik trading companies, other enterprises, entrepreneurs, and some of the embassies and diplomatic organizations based in Dushanbe.