Last Updated on February 26, 2013

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 $1,303,200 $592,214,975
Amount of raised Inactive loans $0 $816,125
Number of raised Inactive loans 0 663
Amount of Paying Back Loans $365,100 $116,724,125
Number of Paying Back Loans 364 124,134
Amount of Ended Loans $938,100 $474,674,725
Number of Ended Loans 1,019 602,242
Delinquency Rate 0.49% 4.02%
Amount in Arrears $1,212 $3,026,567
Outstanding Portfolio $246,428 $75,221,618
Number of loanDelinquent 3 12,360
Default Rate 0.00% 1.13%
Amount of Ended Loans Defaulted $0 $5,345,663
Amount of Ended Loans $938,100 $474,674,725
Number of Ended Loans Defaulted 0 16,814
Currency Exchange Loss Rate 0.00% 0.09%
Amount of Currency Exchange Loss $0 $538,403
Refund Rate 0.14% 0.77%
Amount of Refunded Loans $1,825 $4,537,625
Number of Refunded Loans 5 5,064

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 45.27% 74.19%
Average Loan Size $940 $418
Average Individual Loan Size $940 $656
Average Group Loan Size $0 $1,828
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $1,388 $3,429
Average Loan Size / GDP per capita (PPP) 67.74% 12.20%
Average Time to Fund a Loan 13.61 days 5.6 days
Average Dollars Raised Per Day Per Loan $69.11 $74.62
  Average Loan Term 11.02 months 10.35 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 656 296,398
  Journaling Rate 64.61% 42.38%
  Average Number of Comments Per Journal 0.00 0.08
  Average Number of Recommendations Per Journal 0.00 1.87

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 36% PY 35.00% PY 33.27% PY
  Profitability (return on assets) 4.5% 3.6% -1.45%
  Average Loan Size (% of per capita income) 91.50% 135.00% 40.88%

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
Parvina Muhidin
Sabohat Muminjonova
Diloro Olimova
Daler Orifjonov
Firdavs Pulotov
Jamshed Pulotov
Laziz Rahimov
Marhabo Rasulova
Marhabo Rasulova
Marhabohon Rasulova
Husrav Samadov
Nasrullo Sayfullaev
Masuma Shodieva
Nargis Shodieva
Abdunajib Valiev
Mehroj Valiev
Dilfuza Yuldasheva
Muhayo Yusupova
Зумрат Шукурова