DUSHANBE, Tajikistan, April 29. The European Bank for Reconstruction and Development (EBRD) will provide a $5 million loan to Tajikistan’s Arvand Bank, Trend reports.
The EBRD states that the funds are allocated to create fresh growth prospects for businesses owned and operated by women in Tajikistan. This loan falls under the EBRD’s Women in Business (WiB) program for Central Asia, backed by the Women Entrepreneurs Finance Initiative.
Arvand will additionally receive technical support through WiB, aimed at advancing women’s entrepreneurship and business initiatives. Women-led small and medium-sized enterprises, Arvand's clients, will also gain access to technical guidance through the EBRD’s Advice for Small Businesses program.
The agreement was reached during negotiations as part of the visit of the President of the EBRD, Odile Renaud-Basso, to Tajikistan.
The CA WiB program strives to foster women's entrepreneurship across Kyrgyzstan, Mongolia, Tajikistan, and Uzbekistan. It aims to help women-led micro-, small and medium-sized enterprises (MSMEs) in these countries by facilitating their access to financing, expertise, and guidance.
The EBRD plans to allocate over $110 million in investment funds through this initiative. By collaborating with partner financial institutions (PFIs), the program aims to reach out to at least 7,000 women-led MSMEs, who often encounter significant gender-related barriers when seeking financial support and expert advice.
The current project portfolio of the EBRD in Tajikistan amounted to 507 million euros as of February 29, 2024, for the completion of 72 active projects. In 2020, the EBRD invested 131 million euros in Tajikistan's projects, followed by 56 million euros in 2021 and 21 million euros both in 2022 and 2023. Overall, the EBRD allocated 947 million euros for 168 projects across the country.