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EBRD and GCF present US$ 6 million to Tajikistan’s microlender Imon Worldwide -
Assist for microbusinesses and inexperienced lending -
Newest challenge beneath EBRD GEFF
Hundreds of small and microbusinesses throughout Tajikistan will be capable to proceed their exercise and tackle board inexperienced applied sciences because of a monetary package deal of as much as US$ 6 million mobilised by the European Financial institution for Reconstruction and Improvement (EBRD) for the nation’s main microlending establishment, Imon Worldwide (Imon).
A part of the package deal will encompass a senior mortgage of as much as US$ 2 million that can permit Imon, serving greater than 130,000 prospects via a community of 27 branches, to offer much-needed finance to native microbusinesses. Sub-loans are anticipated to be disbursed in Tajik somoni to guard debtors from international exchange-related dangers.
The remaining a part of the package deal, as much as US$ 4 million, shall be offered beneath the EBRD’s Inexperienced Economic system Financing Facility (GEFF) and can assist enhance entry to inexperienced applied sciences for native households and small native companies in Tajikistan. This mortgage is supported by concessional financing of US$ 1 million offered by the Inexperienced Local weather Fund (GCF).
The GEFF, supported in Tajikistan by the GCF and South Korea, may even use funds from the European Union’s Enhanced Competitiveness of Tajik Agribusiness Programme, which promotes competitiveness within the agribusiness sector.
The GEFF programme is a part of the Financial institution’s Inexperienced Economic system Transition (GET) strategy. By means of the GET strategy, the EBRD goals to extend inexperienced financing to greater than 50 per cent of its annual enterprise quantity by 2025.
To this point, the EBRD has invested €934 million via 153 initiatives in Tajikistan’s financial system.
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