I work in agriculture in my native district of Tajikistan, the Rumi district. I have been cultivating crops for many years and I grow tomatoes, cucumbers, and o…
Loan amount €600
by 5 members
Disbursement date: 03/01/2017
Final repayment of the loan: 03/01/2018
|MicroWorld's investors have funded:||€600|
Jamoliddin Akhmedjonov - Purchase fertilizer
I work in agriculture in my native district of Tajikistan, the Rumi district. I have been cultivating crops for many years and I grow tomatoes, cucumbers, and other types of vegetables on a large plot of land. As I am getting ready for the next planting season, I need to prepare my soil. For this reason, I am taking a loan to buy mineral fertilizers. Me and my family are looking forward to the start of a new planting season.
Economic and social context
|Population||6 952 223|
|GNI per capita||700 USD|
|Unemployment rate||No data|
|Literacy rate (above 15 years of age)||100%|
|Life expectancy||67 years|
Rates and transparency
- This loan is at 0% and does not pay any interest to the lender.
- The MFI will reimburse the lender in case of default of the entrepreneur but there is no guarantee or insurance given by the MFI.
- 100% of the money collected is sent to the MFI, even if the project is not fully funded on the site.
- The MFI then makes a loan to the micro-entrepreneur and charges an interest rate in order to cover its operational and financial costs.
- The platform earns a commission from the MFI for the service it provides, which helps to fund its running costs.
- More effective than a simple donation, micro-credit promotes long-term sustainable economic development rather than short term help.
- Read the model of loan agreement
HUMO is a microfinance institution in Tajikistan. Established in the east of the country where the majority of the population is concentrated, the institution has a dozen branches spread over the rural areas of the country. The institution serves a little over 13 000 clients by means of loans which are mainly distributed to groups of borrowers wishing to develop agricultural activities (livestock farming and sales, cultivation of various products) or small businesses (mainly market vendors or cottage industries).
|Legal status||NBFI (Non-Bank Financial Institution)|
|Number of borrowers||12,478|
|Size of loan portfolio||$7,915,344|
|Average loan balance||$634|
|Average borrower interest rate||3.6% per month|
|Total number of staff||225|
|PAR (Portfolio at Risk)||1.79%|
|Average amount / GDP per capita (Accessibility for the poorest)||81.62%|
|Percentage women borrowers||36%|
|Savings accounts opened by the clients||No|
|Guarantees required to access a loan||Joint and several guarantee (group), ownership (individual)|
|Special programmes||“Start-Business” programmes with loan, training and guidance.|