Ebrd Approves Loan To Tajikistan's Microcredit Organization
Date
8/24/2023 7:58:44 PM
(MENAFN- Trend News Agency) DUSHANBE, Tajikistan, August 24. EBRD (European
Bank for Reconstruction and Development) has approved a loan of $3
million to Tajikistan's IMON microcredit deposit-taking
organization, trend reports.
According to EBRD, the total loan amount is $4 million. In
addition to EBRD's contribution, GCF (Green Climate Fund) will
provide $1 million under the Green Economy Financing Facility
Regional Framework.
The funds from this loan will be directed towards climate change
mitigation and adaptation technologies. The transaction aims to
support the expansion of IMON's product offerings, specifically
focusing on green lending products, in a gender responsive way.
This is the third loan to IMON under the Framework, following
the successful utilization of the initial loan signed in 2021 and
the subsequent one signed in 2022
IMON ranks as the fourth-largest financial institution in
Tajikistan. As of the end of March 2023, it is responsible for
approximately 9 percent of the total lending in the country.
EBRD portfolio in Tajikistan reached 487 million euros,
allocated for 67 active projects as of July 31.
Tajikistan joined EBRD in 1992; since then, the bank has
established itself as the primary investor in the country,
fostering a longstanding cooperation. Its primary foin
Tajikistan lies in enhancing infrastructure, promoting regional
connectivity, and creating employment opportunities.
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