Tajik investment bank Agroinvestbank has been slated for an equity investment of up to USD 12 million from the European Bank for Reconstruction and Development (EBRD). Through the investment the EBRD will acquire a stake of 25% plus one share in one of the nation’s leading lending institutions. Agroinvestbank will use some of the capital to fund local businesses while the rest will be dedicated to the growth and development of the bank.
In addition to the loan Agroinvestbank will also receive a USD 1.5 million grant from the EBRD’s Early Transition Countries Fund. Total investments by the EBRD in the Tajik economy are nearing $200 million.
Agroinvestbank (www.agroinvestbank.tj)
Originally established in 1992, Agroinvestbank is a privately owned joint-stock company based in the Tajik capital of Dushanbe. The bank provides lending and financial services to micro, small, and mid-sized businesses primarily in the nation’s agricultural sector.
Agroinvestbank maintains four regional offices in Khujand, Khorog, Kurgan-Tube, and Kulyab along with 57 branches throughout Tajikistan. The bank’s shareholders include individual and institutional investors, business enterprises, and individual Tajik consumers.
27/08/2009
Central & Eastern Europe, Financial Services, Investment, Private Equity News