4th cgft presentation eb forum - eng

1. Credit Guarantees for Tajik
Financial Institutions:
De-risking MSME lending in Tajikistan
November 15, 2019
Bank Eskhata Investment Forum
Dushanbe, Tajikistan

2. Inspiring Example of a Guaranteed Loan
Production, packaging
and export of pistachios
to Turkey
USD 100k guaranteed credit for:
Purchase of machinery for a new production point – USD 80k
Purchase of raw material – USD 20k

3. CGFT Set-up & Governance
CGFT - Credit Guarantee Fund Tajikistan GmbH
(CGFT) was established in 2014. CGFT is owned
and financed by three important European
development finance institutions (DFIs):
 DEG – Deutsche Investitions- und
Entwicklungsgesellschaft mbH (investment of
EUR 5m)
 OeEB – Oesterreichische Entwicklungsbank
AG (investment of EUR 5m),
 FMO – Nederlandse Financierings-
Maatschappij voor Ontwikkelingslanden N.V.
(investment of EUR 2.5m)
Additionally, the three investors together
provided a technical assistance faciltiy of
approximately EUR 1m
CGFT is managed by LANDT GmbH ("LANDT").
Tajik Credit Support Partner LLC (TCSP) which is
owned by LANDT, acts as the local consulting
company.
CGFT- Credit Guarantee
Fund Tajikistan GmbH
Tajik Partner Financial
Institutions
Micro, Small & Medium
Enterprises
DEG
Shareholder Structure of CGFT
CGFT Capital Pooling GmbH & Co KG
OeEB FMO
Tajik Credit Support
Partner LLC (TCSP)
(consulting company with
offices in Dushanbe and
Khujand)
LANDT GmbH

4. Disbursement of
guaranteed loans
Outstanding guaranteed
loan portfolio
$ 55.8m
$ 12m
Business Volume & Macroeconomic Impact
0.84%
0.76%
Average historical net loss
(p.a)
Portfolio at risk (PAR)>90
Cumulative share of SME
portfolio of 6 PFIs20%
Agri-lending training for
loan officers
E-learning platform
created
Training in anti-money
laundering techniques
SME Lending Units
established in 1 bank /
improved in 3 banks and 1 MFI
E&S Risk Management
System introduced
Results of TA
1,350+
5,800+
MSME received guaranteed
loans
Jobs supported
Achievements of CGFT as of Q3 2019

5. Value Proposition of CGFT
Financial Institutions
Institutional Investors
CGFT - Credit Guarantee Fund
Tajikistan
• Additional loans
• Larger loan sizes (with same
transaction cost)
• Increase of volume without
increase of risk  increase of
income
• Better terms of refinancing

6. Strategic Outlook
Credit Lines Islamic Loans
Solar Finance
FinTech
Women Finance
Refinance
Guarantees
Agriculture
Lending
Startup Finance
Systematic coverage
of the whole financial sector
- Building markets through TA
- Specialized guarantee products
- Systematic de-risking of the financial
sector
- New guarantee delivery models
- National stakeholders
potential for new partnerships
potential for new partnerships
Systematic Growth
Targeted Market Development

7. Bernd Leidner
Managing Partner
b.leidner@cgft.com
+49 162 912 9487
The information contained in this presentation is provided for information purposes only and should
in no event be construed as a prospectus, solicitation or offer, as advice or as a recommendation
to buy, sell or engage in any transaction whatsoever.
The information contained in this presentation constitutes in no event a solicitation or offer, an
advice or a recommendation to buy, sell or engage in any jurisdiction where such offer or sale
would be prohibited.
CGFT - Credit Guarantee Fund Tajikistan GmbH
Bleibtreustraße 48
10623 Berlin
Germany
www.cgft.com
Thank you and Happy
Birthday!