The European Bank for Reconstruction and Development (EBRD) on May 15 said it is pledging new funds to support inclusive lending to the smallest customers in remote areas of Tajikistan. The Bank is providing a financial package of US$ 4 million (€3.7 million) to one of the country’s leading microlenders, MDO HUMO.
HUMO, the winner of this year’s EBRD Sustainability Silver Award, will receive up to US$ 2 million under the EBRD’s Youth in Business programme in Central Asia, which is designed to provide better access to finance and relevant training to young entrepreneurs in the region.
A loan of up to US$ 1 million, under the EBRD’s Women in Business (WiB) programme for Central Asia, will help promote women’s entrepreneurship and business activity.
The third component of the package, a loan of up to US$ 1 million, will stimulate the development of micro, small and medium-sized enterprises in Tajikistan.
To date, the EBRD has invested €947 million through 168 projects in Tajikistan.
