Tojiksodirotbank and EBRD completed cooperation within framework of SME lending project

mrc_fin7Beginning with the fourth quarter of 2009, and until 2011, Tojiksodirotbank was one of the key participants of EBRD’s project of development of Small and Medium Enterprises (SME) lending in Republic of Tajikistan. The project implementation included technical assistance provided by the Swiss consulting company Business & Finance Consulting (BFC).

“We are always pleased to deal with professionals. During our work with Tojiksodirotbank we realized that the Bank has high potential, given the results of our work,” mentioned Maik Iwanowski, BFC bank adviser and project leader from BFC.

During the 2 years the Bank has achieved results which demonstrated the project’s success. Project development fully justified Tojiksodirotbank’s strategy focus in 2010–2011 on substantial expansion of the branch network across the country. This required radical changes both in the Bank’s organizational structure and in business processes, including renewal of the approaches to SME lending. In cooperation with the Bank employees, BFC consultants developed a new system of motivation for SME experts, held trainings for loan officers and trainers, developed proposals on the new organizational structure for the lending administration as well as introduced new client assessment forms and financial analysis procedures.

“EBRD’s project on SME lending development was successfully implemented in our Bank and we plan to continue developing SME lending after the project completion,” said Daler Ikromov, Deputy Head of Lending Administration and project coordinator of the Bank.

Tojiksodirotbank cooperates with many international organizations and specifically points out the importance of EBRD’s support as one of its key partners.


EBRD has been operating in Tajikistan since December 1996, having made investments of over million in the country’s economy. EBRD investments into the financial sector amount to million.

In 2008, EBRD’s Management Board has approved a new financial sector support program for Tajikistan. SME lending development is among the key tasks of the program. The program allocates up to million to the development of financial sector of the country. Within the program’s framework, partner banks receive technical assistance for the development of SME lending.

BFC is one of the leading consulting companies in development finance, specializing in providing consulting services for SME lending in the emerging market countries of Eastern Europe and Asia.

BFC was established in 2003. The company’s Head Office is located in Zurich, Switzerland. BFC staff consists of 53 employees working in offices located in Moldova, Georgia, Russia and Tajikistan.