OXUS Development Network



The OXUS story began in 1997 in Tajikistan, just as the country emerged from a civil war. Back then, ACTED started to disburse its first micro-loans in the Vakhsh Valley. This microfinance programme aimed at supporting bakers in desperate need of flour, who were able to repay at a later stage. Following the success of this initial initiative, ACTED gradually launched several microfinance programs across the country. In February 2006 eventually, OXUS was registered with the Tajik National Bank as a Micro Lending Organization. Since then, OXUS Tajikistan has developed the portfolio inherited from ACTED. As of December 2019, OXUS Tajikistan is ranked amongst the largest microfinance provider in portfolio terms in the country. The affiliate has 4 branches and 27 BCSs and has since inception disbursed over 160k micro loans

Over the last decade Tajikistan has achieved remarkable socio-economic progress. The national poverty headcount at national level has retreated from 92% in 1999 to 30,3% in 2016. In addition, more than 80% of the Tajik population lives in rural areas, with agriculture representing 20.7% of the GDP. At the same time, the country suffers from weak financial inclusion as banks and local financial institutions are not always able to provide much-needed loans to local farmers and entrepreneurs.



In order to best meet the specific needs of its clients, OXUS Tajikistan currently offers 7 different types of products (individual business loans, group loan products, individual agro livestock loan products, individual agro horticultural products, external consumer loan products, express loans and internal consumer loan products), with individual loans accounting for 99% of the affiliate’s outstanding loan balance.

Since inception, OXUS Tajikistan has focused on operations in rural areas where 81% of clients live and work. To date about 34% of OXUS clients in Tajikistan use their loan to finance trade and services activities, while nearly 38% use it for livestock and horticulture. In the meantime, women represent 40% of OXUS Tajikistan clients.


Nosirjon Oripov

Chief Executive Officer

After graduating from the Tajik State University of Commerce and the Open University in the UK, Nosir obtained an MBA from the International Institute of Management LINK. He started his career in 2003 at EBRD program TMSEF as loan officer and then as Credit Advisor. He then joined a leading bank in Tajikistan where he worked his way to the top, from the project coordinator to Head of Retail Business Department. He was promoted CEO of OXUS Tajikistan in October 2018.

Ilkhom Khodjaev

Chief Operations Officer

Ilkhom obtained a degree from the Economics and Management Faculty of the Technological University of Tajikistan in Khujand. He began to work for OXUS Tajikistan in 2006 as a Loan Officer in the Sughd Branch, and was quickly promoted to be Loan Administrator, and Loan Supervisor. He managed Product Development and Marketing at Headquarters before becoming Chief Operations Officer.


OXUS Tajikistan

676 Umed Str., Dushanbe, Tajikistan

Tel: (+992) 48 701 60 08, 48 701 60 08