Investors & Partners

Investors

CGFT investors are members of CGFT’s governing corporate bodies and participate in joint strategic decision-making.

DEG / KfW

Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) is a 100% subsidiary of KfW, the German government-owned development bank. Since 1986, KfW has continuously operated with a Triple-A rating and repeatedly been ranked as the world’s safest bank.

Within KfW, DEG’s mandate is to finance and support private business initiatives in order to contribute to sustainable economic growth and improved living conditions in developing and transition countries. With a portfolio of around EUR 8 billion in more than 80 countries, DEG is one of Europe’s largest development finance institutions for the private sector.

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OeEB

OeEB is the official development bank of the Republic of Austria. Operating under a public mandate, OeEB strives for improving living conditions in developing and emerging countries.

OeEB contributed EUR 5m in capital to CGFT and EUR 680.000 in technical assistance funding in order to strengthen the private sector in Tajikistan. These funds are provided by the Republic of Austria and managed by the Advisory Programmes department of OeEB.

Advisory Programmes focus primarily on enhancing investments financed by OeEB from a developmental point of view through studies and capacity building measures.

 

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FMO

FMO is the Dutch Development Bank. FMO has invested in the private sector in developing countries and emerging markets for more than 46 years. FMO’s mission is to empower entrepreneurs to build a better world.

FMO has contributed EUR 2,5m to CGFT’s capital, facilitating the establishment of CGFT. FMO is also participating in a TA Facility further supporting the development of the SME finance sector. The participation in CGFT is part of FMO’s continuous support to Tajikistan, where FMO has invested since 2008.

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Partner Financial Institutions

CGFT’s business model relies on close cooperation with its carefully-selected partners. It continuously considers new partner institutions focused on lending to the MSME sector in Tajikistan.

Bank Eskhata

OJSC "Bank Eskhata" is one of the largest participants in the financial services sector in Tajikistan, providing a full range of banking services. Bank Eskhata network is formed by 22 branch offices, 110 banking centers and 428 points of money transfers across the country.  It serves a range of clients from private citizens and corporate clients to consumers of investment banking, trade finance and asset management services.

The mission of Bank Eskhata is to contribute to the economic development of Tajikistan by means of supporting MSMEs with the view to improve living standards in the country.

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Arvand

In 2002 Arvand was established as a Centre for Development and Support of Microentrepreneurs (MDTM) and was part of a regional project on microfinance in Ferghana Valley which was conducted by the representation of ACDI / VOCA, a US based private international development organization.

In 2004, MDTM was re-registered as Microlending Fund "MicroInvest." In 2019, Credit organizations LLC MDO “Arvand” and CJSC “AccessBank Tajikistan” announced the successful implementation of an important stage in the process of merging and transformation into CJSC Bank "Arvand".

Arvand is committed to meeting the needs of all of its clients and provides loans with no pledge, which allows low-income families and micro-entrepreneurs to enhance their income and improve living standards.

The partnership between CGFT and Arvand launched in 2016.

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IMON INTERNATIONAL

CJSC MDO "Imon International" is among the leading financial institutions in Tajikistan and has been providing local financial services for over 15 years. Imon International was established by the National Association of Business Women of Tajikistan (NABWT) through its project "Microloans in Tajikistan."

The operations of Imon International are based on its core values including: honesty and reliability, practicality and efficiency, transparency and development, professionalism and competence,  and client care.

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The First MicroFinance Bank

The First MicroFinanceBank Tajikistan (FMFB-T) was founded in 2003 and has its head office in Dushanbe. FMFB-T is closely affiliated with the Aga Khan Development Network (AKDN) – a group of development agencies working in health, education, culture, and rural and economic development primarily in Asia and Africa.

FMFB-T was established to consolidate the operations of the existing micro-finance institutions run by AKDN in Tajikistan. Presently, FMFB-T is a well-established bank, adhering to international standards and providing banking services in all regions of Tajikistan to SMEs, microfinance, retail and corporate clients.

Cooperation between CGFT and FMFB-T started in January 2017 and is developing dynamically.

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Humo

MDO Humo is a progressive micro credit deposit organization based in Dushanbe. Humo provides  financial services to the rural populations of Tajikistan and promotes the development of SMEs in developing areas. Humo relies on innovative technology and high standards of micro financing, which allows it to carry out its activities in accordance with international best practice.

Cooperation between Humo and CGFT started in 2016 with an extensive Technical Assistance project focused on enhancing Humo's capacity for SME lending.

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Spitamen Bank

The Spitamen Bank Closed Joint Stock Company began operating in 2008 as the Spitamen Capital Microcredit Deposit Institution (MDI). In 2014 Spitamen Capital obtained an NBT license for banking activity. Spitamen Bank now has 12 branches and service centers across the country and more than 300 employees.

The innovative products and services offered by Spitamen Bank conform to international standards and are designed to drive convenience for its clients. The partnership between CGFT and Spitamen Bank began in 2020.

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FURUZ

The micro-lending activities of Furuz began in November 1999 as the Micro Enterprise Development program of the international NGO Millennium Relief and Development Services. After receiving a lending license in March 2006 from the National Bank of Tajikistan, the Microcredit Organization Furuz started its lending activities. Furuz's operations aim to encourage locally-driven economic development that offers a long-term solution to Tajikistan's economic challenges that stem from barriers to access to credit for small businesses.

In 2020, CGFT and Furuz LLC became partners with a collaborative focus on MSME financing in Tajikistan.

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