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IMON International, a major responsible microfinance player in Tajikistan
Project
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Signature date
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Location
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Tajikistan
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Financing tool
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Financing amount (Euro)
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5391804
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Financing details
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Loan equivalent to USD 6m in local currency (TJS)
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Customer
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IMON International
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Type of customer
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Microfinance
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Country of headquarters
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Tajikistan
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Project number
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PTJ1001
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco is renewing its support to Imon international, the leading microfinance institution in Tajikistan, via a credit line equivalent to USD 6m in local currency (TJS). This second loan should allow Imon International to develop its loan portfolio and some 23,000 additional people should be able to access high-quality microfinance products and services.
Client presentation
IMON International is a microfinance institution in Tajikistan. It was initially a project launched in 1999 by the National Association of Business Women in Tajikistan (NABWT), with support from the NGO Mercy Corps, and todays serves over 110,000 clients. IMON International is the leading microfinance institution in Tajikistan, with a market share of 35%. The MFI currently has some 1,500 employees, 38% are women.
Project description
The project involves the allocation of a USD 6m credit line (equivalent in local currency – TJS) to the Tajik microfinance institution (MFI) IMON International to support the development of its loan portfolio.
This project is part of the 2X Challenge initiative. This multi-stakeholder initiative aims to support projects that empower women as entrepreneurs, business leaders, employees and consumers of products and services, and increase their participation in the economy.
This initiative thus contributes to Sustainable Development Goal #5 (Gender Equality).
Project impact
Proparco’s new credit line will make it possible to continue to support the development of a responsible microfinance player in the most fragile country in Central Asia. On the economic front, the project will support the financial inclusion of vulnerable populations, with over 23,000 additional people gaining access to high-quality microfinance products and services. The project will contribute to the employment and training of local communities.