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    Finance Business Tajikistan

    EBRD's initiative stimulates youth and women entrepreneurship in Tajikistan

    EBRD's initiative stimulates youth and women entrepreneurship in Tajikistan

    The European Bank for Reconstruction and Development (EBRD) announced a new financial package to support inclusive lending in remote areas of Tajikistan, focusing on youth and women entrepreneurs. The EBRD  aims to provide $4 mn to one of the country’s leading microlenders, MDO HUMO.

    Photo: EBRD
    Source: Google Images

    HUMO, which recently won the EBRD Sustainability Gold Award, will receive up to $2 mn under the EBRD’s Youth in Business program in Central Asia. This program aims to improve access to finance and provide relevant training to young entrepreneurs in the region. Additionally, a loan of up to $1 mn under the EBRD’s Women in Business (WiB) program for Central Asia will support women’s entrepreneurship and business activities.

    The third component of the financial package includes a loan of up to $1 mn to stimulate the development of micro, small, and medium-sized enterprises (MSMEs) in Tajikistan. These loans are part of a $5 mn financing package designed to boost entrepreneurial activities in the country. 

    On May 14, during the EBRD 2024 Annual Meeting and Business Forum in Yerevan, the EBRD Sustainability Awards ceremony took place. HUMO, the second largest microfinance institution in Tajikistan by number of clients and loan portfolio, won the Gold Award in the Financial Intermediaries category. 

    To date, the EBRD invested over $1 bn through 170 projects in Tajikistan. The EBRD is a multilateral bank that supports the development of the private sector and entrepreneurial initiatives in 36 economies across three continents. Owned by 73 countries, the EU, and the EIB, the EBRD aims to make economies competitive, inclusive, well-governed, green, resilient, and integrated.

     

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    18.05.2024, 16:31   Comments (0)   1996
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    Sabina Aliyeva

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