(MENAFN- Trend News Agency) DUSHANBE, Tajikistan, April 13 . The EuropeanBank for Reconstruction and Development (EBRD) has approved aprovision of a $5 million loan for Tajikistan's Arvand Bank,Trend reports.
According to the EBRD, the loan is provided under the GCF-GreenEconomy Financing Facility Regional Framework (GCF-GEFF Programmein Tajikistan II). Out of the total amount, up to $3.75 million isto be provided by the EBRD and up to $1.25 million by the GCF.
The funds from the loan will be directed towards climate changemitigation and adaptation technologies. This transaction will aidin expanding Arvand's range of products by introducing greenlending options, with a focus on gender responsiveness.
Meanwhile, the current loan portfolio of the EBRD in Tajikistanamounted to 482 million euros for 69 active projects as of January31, 2024.
As of the reporting date, the EBRD's cumulative investments inTajikistan totaled 919 million euros, spread across 165 projects,with the private sector's share in the portfolio amounting to 13percent.
Arvand Bank provides a comprehensive suite of banking services,focusing mainly on the retail and MSME sectors in Tajikistan. As ofthe end of 2023, Arvand ranks as the ninth-largest bank by assetsand the fourth-largest by loan book among banks in Tajikistan.
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