EBRD provides loan to Tajik IMON INTERNATIONAL
The European Bank for Reconstruction and Development (EBRD) has granted a loan of $ 29 million somoni for four years to "IMON INTERNATIONAL", one of the largest microfinance institutions in Tajikistan, IA Asia-Plus reported on Tuesday.
Successful involvement of the EBRD loan provides the organization with many new opportunities for work in the financial market. Long-term financing from the EBRD will provide significant liquidity to "IMON INTERNATIONAL" that can be used to support various sectors of the economy. EBRD loan, issued in the national currency of Tajikistan, will allow customers of "IMON INTERNATIONAL" avoid currency risks. The loan consists of two components: a credit line of 29 million somoni and technical assistance.
According to the general director of "IMON INTERNATIONAL" Sanovbar Sharipova, another loan from the EBRD will enable the organization to provide funding for longer periods and increase lending to small businesses.
As mentioned by the head of the EBRD office in Dushanbe Ulf Hindstrom, the European Bank for Reconstruction and Development is very pleased with the fruitful long-term cooperation with "IMON INTERNATIONAL". Working with successful microfinance institutions allows the Bank to reach small businesses that form the backbone of the economy of Tajikistan.
The European Bank for Reconstruction and Development is an international financial institution that supports projects in 30 countries from central Europe to central Asia. EBRD is boosting its investment and is working on development of a wide range of initiatives to improve the economic situation in the countries of operations.
"IMON INTERNATIONAL" cooperates with the EBRD since 2005. This is the first microfinance institution in Central Asia that received a loan from the EBRD. Mere fact of "IMON INTERNATIONAL" receiving loan from the European Bank for Reconstruction and Development confirms the attitude of foreign partners to the organization as a stable financial institution with a good reputation and a balanced policy.