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 $2,100,125 $923,326,050
Amount of raised Inactive loans $0 $628,725
Number of raised Inactive loans 0 277
Amount of Paying Back Loans $320,525 $139,911,425
Number of Paying Back Loans 579 170,052
Amount of Ended Loans $1,779,600 $782,785,900
Number of Ended Loans 2,090 979,669
Delinquency Rate 0.98% 8.42%
Amount in Arrears $2,303 $7,615,831
Outstanding Portfolio $234,553 $90,466,478
Number of Loans Delinquent 11 21,444
Default Rate 0.05% 1.37%
Amount of Ended Loans Defaulted $816 $10,717,799
Number of Ended Loans Defaulted 3 30,602
Currency Exchange Loss Rate 1.69% 0.46%
Amount of Currency Exchange Loss $35,439 $4,210,313
Refund Rate 0.82% 0.63%
Amount of Refunded Loans $17,125 $5,840,725
Number of Refunded Loans 33 5,906

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 47.04% 75.10%
Average Loan Size $784 $403
Average Individual Loan Size $784 $635
Average Group Loan Size $0 $1,782
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $2,700 $5,908
Average Loan Size / GDP per capita (PPP) 29.02% 6.82%
Average Time to Fund a Loan 15.38 days 6.97 days
Average Dollars Raised Per Day Per Loan $50.95 $57.81
  Average Loan Term 12.59 months 11.1 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 763 479,420
  Journaling Rate 35.30% 41.60%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.21

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 26.15% PY
  Profitability (return on assets) 2% 3.6% -0.05%
  Average Loan Size (% of per capita income) 91.50% 135.00% 17.77%

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