PROJECT

Projects

Summary of Investment Information

Project Number

51047

Company Name

CJSC BANK ARVAND

Date SPI Disclosed

May 5, 2025

Country

Tajikistan

Region

Central Asia and Turkiye

Projected Board Date

Jun 9, 2025

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Jan 29, 2026

Department

CF5CT - Regional Industry FIG MCT/FIG Central Asia & Turkey

Industry

Financial Markets

Previous Events

Approved : Jun 30, 2025
Signed : Aug 13, 2025
Invested : Jan 26, 2026

Sector

Commercial Banking - Microfinance

Additional Project Attributes

Blended Finance

Project Description

The proposed Project involves two senior loans up to equivalent of US$15 million in total, denominated in Tajik somoni (TJS), for the Closed Joint-Stock Company Bank Arvand (Arvand, or the Bank). The first loan of to up to US$5 million equivalent is expected to be provided in calendar year 2025, whereas the second loan of up to US$10 million equivalent would address the funding needs of Arvand in calendar year 2026. Up to 50% of the first loan proceeds would be allocated for energy-efficient (EE) housing microfinance (HMF) projects, up to 25% - for on-lending to micro and small enterprises (MSEs), and up to 25% - to women-owned MSEs (WMSEs). Utilization of proceeds of second loan is expected to be similar, but exact shares might be different. Both loans will have 3-year tenor with 1 year grace period.   

Associated Advisory Engagement

In October 2023, IFC started providing advisory support to Arvand by developing HMF lending product and strengthening its capacity to offer non-financial services to HMF clients with the objective of growing its HMF portfolio throughout its branch network including Pamir Region (GBAO). The project will continue supporting the Bank in promotion of the HMF lending product until June 2026 (the end date of the Advisory Services Engagement).     

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation