Furuz 3

Tadžikistan

Furuz 3

Furuz

Uložite u mikrofinanciranje

+ 668 drugih investitora

Invest in farmer Ikromov so he can purchase a small tractor for plowing, sowing, and harvesting grain. This alleviates the physically demanding work and increases grain production, contributing to food security in Tajikistan.

€150,000

Iznos

5.50%

Kamata

24 mjeseci

Dospiće

6 mjeseci

Otplata

EUR

Valuta

Iznos	€150,000
Kamata	5.50%
Dospiće	24 mjeseci
Otplata	6 mjeseci
Valuta	EUR

100%

Potpuno financirano u 41 danana 18 May 2024.

Projekt

Please note: 1st principal repayment after 12 months instead of 6 months. However, the interest payments start after 6 months.

Every day, from sunrise to sunset, Ikromov works on the farm that has been in his family for generations. His children will continue this tradition. Thanks to a loan from microfinance institution Furuz, Ikromov can now buy a small tractor. This alleviates the heavy work but also increases food production on the farm, providing a solid foundation for the next generation.

Microfinance institution Furuz is committed to supporting smallholder farmers like Ikromov. With your contribution, 38 small-scale entrepreneurs in Tajikistan will gain access to financing through Furuz.

What social return could your investment make?

In Tajikistan, a critical shortage of local jobs has led many to seek employment overseas, posing significant economic and social challenges. This situation creates a pressing need for sustainable, local employment solutions to stabilise and grow the economy in Tajikistan.

Microfinance institution Furuz addresses this need by offering support to small entrepreneurs, particularly in rural areas. Their micro-loans enable these business owners, of whom 35% are women entrepreneurs, to grow their ventures and create local jobs. This focus on empowering women is crucial, as they often reinvest in their families and communities, amplifying the positive impact. Furuz's efforts demonstrate the powerful role of microfinance in stimulating economic growth and promoting gender equality in Tajikistan.

What financial return could your investment generate?

Annual interest rate of 5,5%
The maturity of the loan is 24 months
Grace period: the first repayment of your investment will be made after 12 months. After that, there will be a repayment every 6 months
With an investment of 1,000 euros, your expected repayment would be 1,083 euros

The story of Furuz

Furuz, founded in 1999, is committed to Tajikistan's sustainable development, focusing on small businesses, financial inclusion, and gender equality. Having issued over 48,000 loans totaling $43 million USD, Furuz has significantly contributed to job creation and economic growth in the region, with an aim to expand and diversify its client base continually.

Furuz in numbers

Founded in 1999
Furuz employs 120 staff members across its 8 branches
6,000 active borrowers
65% of the borrowers are male, and 35% are female
Issued over 48,000 loans totaling $43 million USD

Naziv tvrtke	Furuz
Izvršni direktor	Hans Joachim Jaeckle
Osnovan	2005-12-22
Lokacija	Bokhtar
Sektor	Financijske usluge
Promet	€240,787
Zaposlenici	133
Kreditni rejting	B+

Utjecaj

Tajikistan faces a significant employment challenge, with many of its citizens migrating for work. This migration impacts the country's economy heavily, as money sent back home makes up a large part of Tajikistan's GDP. Families moving abroad, including a growing number of female workers, intensify the employment issues within the country.

Microfinance institution Furuz addresses this by supporting financially underserved micro-entrepreneurs, particularly in rural Western Tajikistan. These regions rely mainly on agriculture and small businesses, where residents often can't get bank loans due to unproven incomes. Furuz offers small loans, from 300 TJS (EUR 26) to 250,000 TJS (EUR 20,800), targeting businesses with growth potential. This support is crucial for job creation, especially in small and medium-sized enterprises (SMEs) that are key for economic growth. Since 2019, Furuz has helped create over 6,000 jobs. They also focus on gender equality, with women making up 35% of their clients, and efforts to encourage more women to become economically active.

In partnership with the International Finance Corporation (IFC), Furuz also introduced a housing loan product using energy-efficient materials, reflecting their commitment to environmental sustainability.

With these initiatives, Furuz addresses employment issues and promotes inclusive and sustainable economic development in Tajikistan.