BAKU, Azerbaijan, April 27. The volume of the trade financing provided by Kazakhstan's Export insurance company KazakhExport to State Savings Bank of Tajikistan Amonatbank amounted to $4 million from January through March 2023, Director of Information and Communications Department at KazakhExport Aygul Kassenova told Trend.
“The volume of the trade financing provided to Amonatbank in 2022 totaled $4 million. The current trade finance portfolio of the bank is $10.9 million as of April 1,” she said.
The increase of additional financing to Tajik Bank was incentivized by the memorandum signed between KazakhExport and Amonatbank in August 2022. The main purpose of which was to attract direct investment in the economy of Tajikistan and increase the volume of trade between Tajikistan and Kazakhstan.
As Trend reported earlier, the cooperation agreement between Amonatbank and KazakhExport has allowed increasing the amount of trade financing for the bank up to $15.2 million.
With the support of KazakhExport, Amonatbank has opened credit lines for Tajik companies to replenish current and non-current funds for the purchase of building bars and metal products used for the construction of residential and commercial buildings, cars for taxis in Dushanbe, as well as vegetable oil for industrial and domestic consumption, the director said.