The European Bank for Reconstruction and Development (EBRD) has announced a substantial financial commitment to bolster lending opportunities for underserved communities in remote areas of Tajikistan. The EBRD is providing a significant financial package of US$ 4 million (€3.7 million) to MDO HUMO, a leading microlender in the country through a newly announced funding initiative.
HUMO, the recipient of the prestigious EBRD Sustainability Gold Award for this year, stands to benefit from up to US$ 2 million under the EBRD’s Youth in Business program in Central Asia. This initiative is specifically designed to offer improved access to funding and relevant training for young entrepreneurs in the region. Additionally, a loan of up to US$ 1 million will be extended under the EBRD’s Women in Business (WiB) program for Central Asia, aimed at promoting and enhancing women’s entrepreneurship and business activity.
In a bid to further support the development of micro, small, and medium-sized enterprises in Tajikistan, the financial package includes a third component in the form of a loan of up to US$ 1 million. This financial assistance being offered is part of a comprehensive US$ 5 million financing package to uplift entrepreneurial endeavors in the country.
Furthermore, the recent EBRD Sustainability Awards ceremony held in Yerevan on Tuesday, May 14, resulted in HUMO securing the prestigious Gold Award in the Financial Intermediaries category. Notably, HUMO is the second largest MFI in terms of both the number of clients served and the loan portfolio. The award, which saw 63 nominations submitted and winners selected by a panel of independent judges comprising experts in finance and sustainable development, underscores HUMO’s outstanding contribution to the industry.
As of now, the EBRD has made substantial investments amounting to €987 million through 170 projects in Tajikistan, highlighting its steadfast commitment to fostering economic growth and development in the region.
The EBRD is a multilateral bank dedicated to advancing the private sector and entrepreneurial initiatives across 36 economies spanning three continents. With ownership vested in 73 countries, along with the EU and the European Investment Bank (EIB), the EBRD’s investments are aimed at bolstering competitiveness, inclusivity, environmental sustainability, governance, resilience, and integration within the economies of its operating regions.