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 $1,869,850 $850,324,500
Amount of raised Inactive loans $0 $408,200
Number of raised Inactive loans 0 183
Amount of Paying Back Loans $203,525 $134,701,225
Number of Paying Back Loans 417 163,278
Amount of Ended Loans $1,666,325 $715,215,075
Number of Ended Loans 1,868 886,512
Delinquency Rate 0.49% 8.81%
Amount in Arrears $659 $7,608,143
Outstanding Portfolio $133,508 $86,377,071
Number of Loans Delinquent 7 24,798
Default Rate 0.27% 1.30%
Amount of Ended Loans Defaulted $4,545 $9,268,518
Amount of Ended Loans $1,666,325 $715,215,075
Number of Ended Loans Defaulted 8 24,054
Currency Exchange Loss Rate 1.79% 0.43%
Amount of Currency Exchange Loss $33,493 $3,656,209
Refund Rate 0.12% 0.64%
Amount of Refunded Loans $2,175 $5,429,350
Number of Refunded Loans 7 5,746

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 47.39% 74.82%
Average Loan Size $817 $408
Average Individual Loan Size $817 $642
Average Group Loan Size $0 $1,812
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $2,700 $5,939
Average Loan Size / GDP per capita (PPP) 30.25% 6.87%
Average Time to Fund a Loan 14.71 days 6.88 days
Average Dollars Raised Per Day Per Loan $55.51 $59.29
  Average Loan Term 12.1 months 11.02 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 718 423,933
  Journaling Rate 36.31% 40.63%
  Average Number of Comments Per Journal 0.00 0.06
  Average Number of Recommendations Per Journal 0.00 1.33

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 27.68% PY
  Profitability (return on assets) 2% 3.6% -0.70%
  Average Loan Size (% of per capita income) 91.50% 135.00% 19.27%

Country Fast Facts

Field Partner Staff

Sevara Ismoilova
Nafisa Mirzoeva
Zarina Mirzoeva
Zarina Mirzoeva
Nekruz Saburzoda
Nilufar Salomova
Dilnoza Sattorova
Firdavs Temirov
Noila Temurova
Shukrona Yunusova