New Financial Reforms in Tajikistan Offers Easier Access To Loans For SME
Small and medium-sized enterprises (SMEs) in Tajikistan will receive easier and quicker access to financing as the country adopts new reforms to improve its legal and economic investment climate.
A new collateral registry, launched by the Tajik Government in partnership with an international financial institution, was introduced to support a set of policy measures that provides financing to the SMEs.
The collateral registry is a public online database that allows banks in the country to register the collaterals needed for loans such as livestock, machinery and vehicles.
An expert in Tajik economy, Nargis Pochoyeva said the Government is considering the legislative aspects of business transactions and measures to improve the financial accessibility for SMEs.
She added that eight laws have been adopted recently in order to create the necessary framework of secured financial transactions.
According to a research by a global financial institution, the financial transaction reform will support new financing opportunities in Tajikistan, which would then lead to an increase in SMEs in the country.
In order to regulate the new reforms, the Tajik Government has also introduced an electronic tax register in January this year.