Dushanbe, November 14, 2018
CRIF, World Bank, and CIBT (Credit Information Bureau Tajikistan) launch a new credit report integrated with CLARA (Agri-Lending Cash Flow Risk Assessment Tool)
On November 14, 2018, at the Hilton Hotel in Dushanbe (Tajikistan), an event was organized by the World Bank for the launch of a brand new credit report of Credit Information Bureau Tajikistan (CIBT). CIBT, of which CRIF is a shareholder, is the leading credit bureau in Tajikistan. The project integrates CLARA (Agri-Lending Cash Flow Risk Assessment Tool) with the local Credit Information Bureau. The initiative is the result of successful co-operation between the World Bank, CRIF and CIBT. The event was attended by representatives from around 45 financial institutions, including banks and MFIs, NBT (National Bank of Tajikistan), the World Bank, CIBT, and CRIF, represented by Simone Belluomo and Carlotta Vazzana.
Thanks to the innovative tool (CLARA), banks that query the local credit bureau to get agri-lending products will receive a fully comprehensive report, including a new section that will support both the lender and the farmer in assessing the sustainability of the credit application. It will now be easier for lenders to analyse agri-lending operations, and for borrowers to obtain loans in a timely manner following and assessment.
Moreover, building a credit history that reflects the entire repayment history of these loans is important not only for financial institutions, but also for the development of small businesses in the sector. In fact, thanks to the introduction of the new service, CIBT will be able to help farmers wanting to increase their access to credit.