The World Bank Group, a multilateral financial institution serving developing countries, has launched the “Azerbaijan-Central Asia Financial Markets Infrastructure Project III”, the third phase of a project which includes an effort to improve the efficiency of the credit reporting system in Tajikistan. Specifically, the new credit system will allow Tajikistan’s credit reporting providers to offer data through a combined platform, allowing lenders to analyze loan risks using credit histories gleaned from multiple credit bureaus at one time. The project, which is being carried out in cooperation with the National Bank of Tajikistan, the central bank of the country, and the government of Tajikistan, is meant to promote the use of movable assets as collateral for lending and also includes efforts to expand financial education.
Funded by the Swiss government, this is the third phase of the “IFC Azerbaijan-Central Asia Financial Markets Infrastructure Advisory Services Project”, which serves Azerbaijan, the Kyrgyz Republic, Tajikistan and Uzbekistan. In 2010, the project created Tajikistan’s first private credit information bureau, which produces about 70,000 credit reports per month as of 2015.
By Jason Wei, Research Associate
Sources and Additional Resources
[1] IFC Azerbaijan-Central Asia Financial Markets Infrastructure Advisory Services Project, http://documents.worldbank.org/curated/en/2011/01/14303021/ifc-azerbaijan-central-asia-financial-markets-infrastructure-advisory-services-project
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