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This loan is part of Arvand's new student loan program, designed to finance university tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses such as cost of tuition, transportation, housing and books. Arvand is using Kiva funding to provide student loans with a lowered interest rate.
About MDO ArvandMDO Arvand is one of the leading microfinance institutions in Tajikistan, offering small loans to entrepreneurs to start and grow their businesses. This makes an enormous difference in a country, which is not only the poorest in Central Asia, but also home to a population where two-thirds live below the poverty line. Today, Tajikistan's economy literally depends on remittances being sent from family members working abroad in Russia because there are so few local job opportunities.
But Arvand loans have been able to make a difference and change lives. Read about some of the incredible success stories they have seen here in this Kiva blog post: Bringing hope to Tajikistan with Arvand -- one success story at a time.
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