Furuz 5
Nozigul is a cotton farmer in Tajikistan. Thanks to microfinancing from Furuz, she has been able to expand her production and better protect herself from droughts and fluctuating market prices. With this loan, Furuz supports 25 farmers in remote areas, where access to financing is very limited.
The project
Nozigul is a small-scale cotton farmer in Tajikistan, working in a sector deeply rooted in the local economy. Together with her family, she cultivates cotton on a small plot, which serves as their main source of income.
Microfinancing from Furuz has made a world of difference for Nozigul, giving her access to the funds needed to increase her production, earn more profit, and start saving. This enables her to better withstand droughts, climate fluctuations, pest infestations, and volatile market prices.
Furuz supports over 3,500 micro-entrepreneurs like Nozigul, one-third of whom are active in agriculture and livestock farming. Furuz is one of the few institutions that specifically targets rural areas, where access to financing is very limited. For many farmers, Furuz provides their first opportunity to receive a loan—a critical step toward financial independence.
Furuz on Lendahand
- Active on Lendahand since: December 2023
- Total funds raised: €700.000
- Amount repaid: €50.000
- Interest paid: €13.000
- On-time repayments: 1 out of 1 (100%)
Your Investment
- Annual interest rate: 5.5%
- Return: 8.3%. For an investment of €1,000, the expected total repayment is €1,083.
- Maturity: 24 months
- Grace period: 12 months. You will receive the first installment of your principal repayment in month 12, followed by additional repayments in months 18 and 24. Interest payments will be disbursed in months 12, 18, and 24.
- Currency: euro.
Furuz
Impact
In Tajikistan, a severe shortage of local jobs forces many to seek work abroad, leading to significant economic and social challenges. Over half of the country’s GDP comes from remittances sent by emigrated Tajiks, who often work in unstable jobs. This highlights the urgent need for sustainable local employment to stabilize and grow the economy.
Microfinance institution Furuz contributes to the solution by supporting small entrepreneurs, mainly farmers. These microloans enable them to create local jobs. Furuz’s efforts demonstrate the powerful role of microfinancing in stimulating economic growth and promoting gender equality in Tajikistan, with approximately 35% of their borrowers being women.
SDGs
With this project, you are contributing to the Sustainable Development Goals below. Read more about the impact you can make through our platform and the SDGs on our impact page.
- SDG 1 No Poverty
- SDG 5 Gender Equality
- SDG 8 Decent Work and Economic Growth
Related blogposts
- Read more about Furuz in their introduction blogpost.
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