Get Involved for Chavakova - HUMO - Vakhdat - microcredit

Loan Illustration

I started my activity with the help of Humo buying a cow. Now, I would like to increase the quantiy of my cattle. But I do not have enough money. This is why I …

Agriculture

Tajikistan Tajikistan

Loan amount €580

Funded 100%

by 15 members

Loan fully repaid by the entrepreneur

Disbursement date: 12/01/2012
Final repayment of the loan: 12/01/2013

MicroWorld's investors have funded:

€580

Chavakova - Purchase cows

Borrower

First name: Chavakova

Gender: Female

Age: 43

Marital status: Married

Number of children: 6

Region: Vakhdat

Loan Request

Purpose: Purchase cows

Amount: €580

Duration: 12 months

Loan type: in fine

The loan is reimbursed in one installment at the maturity date of the project (principal and possible interests).

Note: additional time may be necessary for the funds to be credited on the lenders' accounts due to delays in international transfers.

Learn more

Borrower's quote

I started my activity with the help of Humo buying a cow. Now, I would like to increase the quantiy of my cattle. But I do not have enough money. This is why I decided to apply for another loan with Humo. In the future, from the revenue I will get, I would like to continue to increase my activity.

Project follow-ups

18.10.2013

I bought one of cattle and fattened him for 20 days and then sold it at a good price in the cattle market. Thanks to the loan, I was able to expand my activities and support my family. In the future I want to continue the partnership with Humo and MicroWorld. I am very glad for your help. Thank you

Economic and social context

Tajikistan

Considered to be the poorest region of the former Soviet Union, the development of Tajikistan relies heavily on loans via microfinance, particularly in the rural areas of the nation.

Country's key figures - source Worldbank
Population	6 952 223
GNI per capita	700 USD
Economic Growth	3.4%
Poverty rate	47%
Unemployment rate	No data
Literacy rate (above 15 years of age)	100%
Life expectancy	67 years

MFI Status

This loan is managed locally by our field partner HUMO which is in charge of administrating the loan and repaying MicroWorld lenders.

Partnership status: Confirmed
Credit score:
Time on MicroWorld: 113 months
Repayment rate: 100%

You should be aware that lending involves a risk of non-repayment. However, the risk associated with this MFI is considered lower than average.

Rates and transparency

This loan does not pay any interest to the lender.
Following your loan commitment, you have 7 calendar days to assert your right of withdrawal, by mail at contact@microworld.org.
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 beneficiaries have been well informed about the risks of over-indebtedness and the consequences of payment default.
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.

The MFI

HUMO

Summary

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).

Key figures - December 2011
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%

Social indicators
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.