Eskhata Bank is successfully implementing the program of lending to small and medium-sized enterprises with the support from EBRD, which allows to obtain, under favorable conditions, the necessary financial resources for successful development. This project is supported by the EBRD Shareholder Special Fund and the Support Fund for countries in early stages of transition to market economy and is active since the beginning of 2010 within the Eskhata Bank under the technical assistance of a Swiss consulting company (BFC). The most important advantage of lending to small and medium enterprises is the provision of lending for longer period of time and lower interest rates. The credit is granted in a short time depending on the amount requested, loans may reach 500 thousand USD and more. Up-to-date, this program has provided loans amounting than 15 million somoni.
“Since the implementation of the project, BFC has improved the quality of Eskhata Bank’s credit services inthe are of loans assessment, approval and monitoring. Also, a series of training seminars and practical coaching serve as an important activity in this direction. Particular attention will be paid to prospective development and improving the lending procedures for small and medium-sized enterprises. As a direct participant in this project I can express my satisfaction with the quality of the program’s process this year and give a positive assessment of the Bank’s fruitful work in this direction, ”- mentioned Mike Iwanowski, Senior Bank Advisor BFC, during his interview.
In turn, as the Head of Credit Department at Eskhata Bank , Nosirchon Oripov pointed out that Eskhata Bank is the first bank among other partner banks in the project, that issued loans for the development of small and medium-sized enterprises.
“We are very grateful for the cooperation with EBRD, the project is a continuation of other EBRD projects aiming to launching and implementing new methods and service delivery to our clients. We intend to continue cooperation in achieving all goals set for 2011. This will provide an opportunity to increase clients’satisfaction and attract other potential customers ”- added Nosirchon Oripov.
Due to support received from EBRD, today Eskhata Bank is on the right path in the development and expansion of its operations. During the 8 years of joint collaboration, Eskhata Bank was able to make the transition of the bank’s structure to an international level; provide significant increases in its loan portfolio, capital ; as well as advance the service quality and the bank’s overall operations.
In 2008, EBRD established the lending mechanism for the financial sector in Tajikistan (MCFST) to support the development of small and medium-sized enterprises, as well as the banking sector.
As a result of this mechanism, Banks of Tajikistan will be provided with credit lines totaling 50 million USD. The mechanism is aimed to support, develop and stimulate lending to small and medium-sized partner banks, which includes Eskhata Bank.
BFC is one of the leading finance consulting companies specialized in the field of SME lending in countries with transition economies in Eastern Europe and Asia.
CB “Eskhata Bank” was established in 1993, licensed by the National Bank on 29th of November 1994. It is a commercial bank, offering a wide range of services to small and medium-sized enterprises. Eskhata Bank has 13 branches, 9 banking centers and 96 locations for money transfer.