Agroinvestbonk invests in agricultural project in Khovaling through TAAF-2 program

KULOB, December 25, 2011, Asia-Plus  -- Agroinvestbonk’s branch in Kulob is supporting an agricultural project in Khatlon’s Khovaling district through the Tajik Agriculture Financing Framework (TAAF-2) program, Sayfiddin Qadamov, the head of Agroinvestbonk’s branch in Kulob, said.

According to him, the project provides for launching a dairy farm and laying out an apply orchard in the Khovaling district.

“The Khovaling authorities have allotted 26 hectares for the apple orchard,” said Qadamov.  “Apple seedlings costing 9.00 euros each will be delivered to Khovaling from France.”  Apple yields are expected to reach up to 4 tons per one hectare.

We will recall that TAFF was set up by the European Bank for Reconstruction and Development (EBRD) in 2007 to support the restructuring and diversification of Tajik agricultural sector, involving a USD 35 million lending program. The main objective of TAFF was to provide alternative finance to small and medium-sized farms and support the freedom to farm concept whilst fostering best farming practices.  The European Union has provided a EUR 5.2 million grant to extend and expand TAFF II for the period of 2010-2012.  The grant supports TAFF’s three pillars: 1) increase credit to agriculture; 2) rebuild value chains by fostering linkages between agro-businesses and farmers; and 3) define agriculture and agri-business development strategies.

Founded in 1992, Agroinvestbonk, with headquarters in Dushanbe, has main branches in Khorog, Khujand, Kulob and Qurghon Teppa and 61 other branches across the republic.