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 230 professionals serving over 16,000 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 35 service points, including 5 branches, 11 sub-offices and 19 client service centers.  

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 $1,575,725 $677,594,900
Amount of raised Inactive loans $0 $441,650
Number of raised Inactive loans 0 278
Amount of Paying Back Loans $368,225 $129,294,850
Number of Paying Back Loans 419 143,177
Amount of Ended Loans $1,207,500 $547,858,400
Number of Ended Loans 1,298 684,067
Delinquency Rate 1.40% 6.96%
Amount in Arrears $3,536 $5,860,223
Outstanding Portfolio $252,152 $84,153,104
Number of Loans Delinquent 14 22,128
Default Rate 0.00% 1.11%
Amount of Ended Loans Defaulted $0 $6,104,406
Amount of Ended Loans $1,207,500 $547,858,400
Number of Ended Loans Defaulted 0 18,783
Currency Exchange Loss Rate 0.13% 0.19%
Amount of Currency Exchange Loss $2,020 $1,320,899
Refund Rate 0.12% 0.70%
Amount of Refunded Loans $1,825 $4,723,750
Number of Refunded Loans 5 5,242

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 43.61% 74.24%
Average Loan Size $916 $417
Average Individual Loan Size $916 $656
Average Group Loan Size $0 $1,839
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $1,388 $3,381
Average Loan Size / GDP per capita (PPP) 66.00% 12.32%
Average Time to Fund a Loan 14.71 days 6.09 days
Average Dollars Raised Per Day Per Loan $62.29 $68.46
  Average Loan Term 11.63 months 10.65 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 670 334,543
  Journaling Rate 50.08% 41.63%
  Average Number of Comments Per Journal 0.00 0.07
  Average Number of Recommendations Per Journal 0.00 1.66

Borrowing Cost Comparison (based on 2013 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 34% PY 35.00% PY 32.07% PY
  Profitability (return on assets) 2.7% 3.6% -1.94%
  Average Loan Size (% of per capita income) 91.50% 135.00% 19.61%

Country Fast Facts

Field Partner Staff

Abdugafur Abdujabborov
Adiba Abduvohidova
Adibahon Abduvohidova
Dilnoza Ahmedbaeva
Vafo Azizmamadov
Ekaterina Bardukova
Alina Davidova
Karim Dilovarshoev
Temur Faiziev
Aziza Gafurova
Akmal Gulayozov
Mavzuna Halikova
Kurbonali Holboev
Malikai Iskandar
Zarina Ismailova
Akmal Ismoilov
Rustam Juraev
Farruh Kuchkarov
Tahmina Maksudova
Parviz Manonnov
Javohir Marasulov
Munzifa Mavlyanova
Nafisa Mirzoeva
Zarina Mirzoeva
Parvina Muhidin
Sabohat Muminjonova
Diloro Olimova
Daler Orifjonov
Sitora Oripova
Firdavs Pulotov
Jamshed Pulotov
Laziz Rahimov
Marhabo Rasulova
Marhabohon Rasulova
Husrav Samadov
Nasrullo Sayfullaev
Masuma Shodieva
Nargis Shodieva
Abdunajib Valiev
Mehroj Valiev
Dilfuza Yuldasheva
Muhayo Yusupova
Зумрат Шукурова

Kiva Fellow(s)

Terence Yeo