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 $1,749,800 $779,258,950
Amount of raised Inactive loans $0 $206,775
Number of raised Inactive loans 0 129
Amount of Paying Back Loans $234,175 $133,922,850
Number of Paying Back Loans 322 158,187
Amount of Ended Loans $1,515,625 $645,129,325
Number of Ended Loans 1,652 798,532
Delinquency Rate 0.40% 8.79%
Amount in Arrears $560 $7,823,056
Outstanding Portfolio $139,358 $88,997,909
Number of Loans Delinquent 5 30,237
Default Rate 0.29% 1.27%
Amount of Ended Loans Defaulted $4,435 $8,169,177
Amount of Ended Loans $1,515,625 $645,129,325
Number of Ended Loans Defaulted 7 21,940
Currency Exchange Loss Rate 1.19% 0.37%
Amount of Currency Exchange Loss $20,806 $2,861,801
Refund Rate 0.10% 0.66%
Amount of Refunded Loans $1,825 $5,133,525
Number of Refunded Loans 5 5,569

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 46.04% 74.54%
Average Loan Size $885 $413
Average Individual Loan Size $885 $648
Average Group Loan Size $0 $1,840
Average number of borrowers per group 0 7.9
Average GDP per capita (PPP) in local country $2,700 $5,946
Average Loan Size / GDP per capita (PPP) 32.78% 6.95%
Average Time to Fund a Loan 15.09 days 6.73 days
Average Dollars Raised Per Day Per Loan $58.66 $61.44
  Average Loan Term 11.87 months 10.91 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 681 382,053
  Journaling Rate 39.73% 40.78%
  Average Number of Comments Per Journal 0.00 0.06
  Average Number of Recommendations Per Journal 0.00 1.45

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 29.09% PY
  Profitability (return on assets) 2.7% 3.6% -1.41%
  Average Loan Size (% of per capita income) 91.50% 135.00% 19.25%

Country Fast Facts

Field Partner Staff

Zulola Ahrorova
Rustam Juraev
Farruh Kuchkarov
Nafisa Mirzoeva
Zarina Mirzoeva
Zarina Mirzoeva
Parvina Muhidin
Nekruz Saburzoda