Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.

Partner Description:

MDO Arvand  is one of the leading microfinance institutions in Tajikistan, offering small loans to entrepreneurs to start and grow their businesses. Initially funded by USAID, Arvand has grown substantially since its inception in 2002.  

With a team of 700 professionals serving over 40,000 clients, the organization reaches a considerable segment of Tajikistan’s economy. Impressively, it is one of the first MFIs in the country that has implemented all three areas of financial services: credit, micro-deposits and money transfers. It is able to do this thanks in part to 81 service points, including 6 branches, 43 client service centers, and 32 remittance offices.

Arvand has had some incredible success stories where loans have changed entire lives. Read all about them here in this Kiva blog post!



Arvand’s unique lending approach:

Arvand’s financial services include but are not limited to loans for education, compulsory savings accounts, and voluntary insurance products. In addition, Arvand provides considerable non-financial services to its clients. For example, it offers financial education literacy training so they can become better equipped to handle their own finances. The organization also provides consulting services and mentorship with experts in fields of animal husbandry and law.

Well regarded in Tajikistan, Arvand is a member of AMFOT (Association of Microfinance Organizations of Tajikistan). In addition to its domestic accomplishments, Arvand (previously MicroInvest) was Kiva’s first field partner in Central Asia and contributed to the adoption of the site by other MFIs in the region.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Nov 29, 2011 Oct 12, 2005
Total Loans $2,121,775 $938,320,675
Amount of raised Inactive loans $0 $501,975
Number of raised Inactive loans 0 449
Amount of Paying Back Loans $322,900 $143,680,125
Number of Paying Back Loans 584 175,943
Amount of Ended Loans $1,798,875 $794,138,575
Number of Ended Loans 2,130 994,903
Delinquency Rate 1.06% 7.90%
Amount in Arrears $2,473 $7,433,246
Outstanding Portfolio $233,551 $94,132,449
Number of Loans Delinquent 9 19,274
Default Rate 0.05% 1.40%
Amount of Ended Loans Defaulted $816 $11,137,050
Number of Ended Loans Defaulted 3 31,506
Currency Exchange Loss Rate 1.67% 0.46%
Amount of Currency Exchange Loss $35,507 $4,278,396
Refund Rate 0.83% 0.63%
Amount of Refunded Loans $17,625 $5,887,300
Number of Refunded Loans 34 5,924

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 46.46% 75.18%
Average Loan Size $779 $401
Average Individual Loan Size $779 $634
Average Group Loan Size $0 $1,772
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $2,700 $5,898
Average Loan Size / GDP per capita (PPP) 28.83% 6.80%
Average Time to Fund a Loan 15.22 days 6.93 days
Average Dollars Raised Per Day Per Loan $51.16 $57.86
  Average Loan Term 12.66 months 11.1 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 764 486,687
  Journaling Rate 34.95% 41.51%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.20

Borrowing Cost Comparison (based on 2014 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 32% PY 35.00% PY 25.92% PY
  Profitability (return on assets) 2% 3.6% -0.29%
  Average Loan Size (% of per capita income) 91.50% 135.00% 17.68%

Country Fast Facts

Field Partner Staff

Maftuna Akhmedova
Sevara Ismoilova
Nizomjon Rahmonberdiev
Akparjon Rahmonov
Nilufar Salomova
Dilnoza Sattorova
Halim Shohakimov
Firdavs Temirov
Noila Temurova
Jamoliddin Usupov
Shukrona Yunusova