Project Experience


Micro and Small Enterprise Facility (TMSEF), 2003-2008

The Tajikistan Micro and Small Enterprise Facility (TMSEF) is an institution-building project designed to implement lending to micro and small enterprises (MSEs) in selected commercial banks. The project started in 2003 with financial assistance from several international development programs, coordinated by the European Bank for Reconstruction and Development (EBRD).

TMSEF works with four leading Tajik banks and 40 of their branches. Together with our clients we have set up MSE lending as a new business line. The corresponding departments were created from scratch in the client banks and their branches. The TMSEF became the dominant and stable source of financing for Tajik MSME and agricultural enterprises. Over the course of the assignment LFS achieved the objective of building the skills and providing its client banks with the tools to make MSE lending a profitable business. Various types of loan products were implemented, such as express, micro and SME loans. In the framework of a subproject LFS introduced agricultural lending in the partner banks.

LFS’ services comprised credit advisory and institution-building services, learning and development, strengthening of the bank’s internal audit and control functions, and developing and implementing a MIS for handling and managing respective loan portfolios and assistance in their processing.


AccessBank Tajikistan

From 2003 to 2008 LFS managed the MSE downscaling project Tajikistan Micro and Small Enterprise Facility (TMSEF) and gained extensive country and market experience in Tajikistan. Building on this experience, and after the completion of a feasibility study for a dedicated MSME bank, AccessHolding successfully approached potential investors to team up for investing in a new greenfield bank, AccessBank Tajikistan (ABTJ). AccessHolding is the strategic lead investor, and LFS is the Technical Partner responsible for establishing and managing ABTJ. The Bank opened its doors to the public on 12 April 2010.

ABTJ has the objective to provide the core target group of micro, small and medium-sized enterprises (MSMEs), as well as other clients in the lower and middle income strata, with a broad range of appropriate financial services. ABTJ aims to become one of the leading retail providers of finance to this target group in Tajikistan, and to set standards in terms of efficiency, transparency, and customer service.

For more information on AccessBank Tajikistan, see