ADB in partnership with Eskhata Bank increases trade financing in Tajikistan

ADB in partnership with Eskhata Bank increases trade financing in Tajikistan

Manila, Philippines - The Asian Development Bank (ADB) Trade and Supply Chain Financing (TSCFP) Program and Eskhata Bank from Tajikistan have signed a Revolving Loan Agreement to support trade in the country.

"We have been maintaining relations with Eskhata Bank since 2016, and we are pleased that we will be able to both strengthen these relations and further strengthen our commitment to trade development in Tajikistan," said Nana Khurodze, ADB Relations Manager in Tajikistan.

"This loan agreement will allow Eskhata Bank to gain access to trade loans from the ADB, which is expected to support the import and export activities of our clients, as well as contribute to the further development of trade activities in Tajikistan," said Reiner Muller-Hanke, Chairman of Eskhata Bank OJSC. "This once again underlines the fruitful cooperation between ADB and Tajikistan in recent years".

Since 2009, ADB's TFP has supported more than 21,000 small and medium-sized enterprises in developing countries of Asia - through more than 33,000 transactions worth more than $47.5 billion - in various sectors, from commodities and fixed assets to medical supplies and consumer goods. TSCFP complements its financial support with information products, including a study that quantifies market gaps in trade finance, initiatives to increase the role of women in banking, efforts to increase environmental protection, and initiatives to combat crime through greater transparency of the global financial system. TSCFP also conducts seminars and webinars to expand knowledge and experience in issues related to trade finance, risk management and fraud prevention.

In Tajikistan, TSCFP is working with Eskhata Bank and has supported trading for US$ 27.65 million out of 145 transactions as of January 2021. In addition to filling market gaps, the goal of TSCFP is to mobilize capital/private sector participation in developing Asian countries. In Tajikistan, 40.11% of the US$ 27.65 million in TCP-supported trade was co-financed by the private sector.

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