The European Bank for Reconstruction and Development (EBRD) is pledging new funds to support inclusive lending to customers in remote areas of Tajikistan. It is providing a financial package of US$ 4 million (€3.7 million) to one of the country’s leading microlenders, MDO HUMO, sys press release issued by the EBRD Dushanbe resident Office.
HUMO, the winner of this year’s EBRD Sustainability Gold Award, will receive up to US$ 2 million under the EBRD’s Youth in Business program 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) program 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. The loans are part of a US$ 5 million financing package.
Also, on Tuesday May 14, in Yerevan, on the side-lines of the EBRD 2024 Annual Meeting and Business Forum, the EBRD Sustainability Awards ceremony took place. HUMO, the second largest MFI in terms of the number of clients and the loan portfolio, won the Gold Award under the Financial Intermediaries category. In 2024, 63 nominations were submitted, and the winners were scored by an independent judges consisting of experts in the field of finance and sustainable development.
To date, the EBRD has invested €987 million through 170 projects in Tajikistan.
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents. The Bank is owned by 73 countries, as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green, resilient and integrated.
