The International Fund for Agricultural Development (IFAD) and Bank Arvand signed a grant agreement to invest approximately €445,000 in a new initiative empowering people in rural Tajikistan to transform remittance flows from relatives abroad into sustainable economic opportunities.
The REMIT PRIME Central Asia Programme brings together IFAD, the European Union, and other lenders to increase access to remittances and build prosperity in the communities that rely on them. It is part of IFAD’s worldwide Financing Facility for Remittances umbrella programme and builds on IFAD’s engagement in Tajikistan to promote inclusive rural development and strengthen the role of remittances as a driver of economic opportunity, women’s empowerment, and climate resilience
“We, as the European Union, are excited to support the project, transforming remittance flows into a powerful tool for growth and stability in rural Tajikistan. By offering better financial services, supporting local businesses, and teaching financial skills, we hope to help over 14,000 people, especially women, build a brighter future. Together with our partners, the European Union is committed to fostering lasting development and prosperity in rural communities,” said Radoslaw Darski, European Union Ambassador to Tajikistan.
In rural areas of Tajikistan, one in two residents rely on remittances from abroad to meet basic household needs, especially elderly people and women. These flows sustain livelihoods, finance education, and support small enterprises.
“Remittances are a lifeline for rural Tajikistan. With the Tajik REMIT PRIME Project, Arvand Bank is transforming that lifeline into long-term economic empowerment for thousands of families,” said Pedro De Vasconcelos, Manager, IFAD’s Financing Facility for Remittances.
Over the next two years, the programme will reach over 14,000 people in rural areas, most of them women, helping them access financial services, build sustainable incomes, and strengthen their capacity to invest in climate-resilient livelihoods by:
- Expanding financial access — Strengthening rural delivery channels and agent networks to provide tailored financial services to remittance recipients and returnees.
- Supporting income-generating activities — Providing matching grants and loans for climate-resilient agricultural equipment and technologies.
- Enhancing financial literacy — Training 8,000 rural individuals, over 50 per cent of them women, in financial and business literacy through digital and in-person sessions.
“We are proud to start collaboration with IFAD and the European Union to transform remittances into a source of development, job creation and business opportunities. Together, we aim to help rural communities strengthen their financial resilience and invest in a better future,” said Shoira Sodiqova, Chairperson at Bank Arvand.
