Loan Illustration

I am married and have 2 children. Since I was 18, I have been involved in agriculture. My parents were farmers and I am doing the same job. I like to farm the l…

Agriculture Agriculture

Tajikistan Tajikistan

Loan amount €920

Funded 45%

by 1 member

Funding disbursed to MFI, repayments ongoing

Disbursement date: 10/01/2018
Final repayment of the loan: 10/01/2020

MicroWorld's investors have funded: €420

Rustam Rahmatov - Purchase seed

Borrower

Last name: Rahmatov
First name: Rustam
Gender: Male
Age: 35
Marital status: Married
Number of children: 2
Region: Istaravshan

Loan Request

Purpose: Purchase seed
Amount: €920
Duration: 24 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.

Borrower's quote

I am married and have 2 children. Since I was 18, I have been involved in agriculture. My parents were farmers and I am doing the same job. I like to farm the land because it doesn't only allow me to feed myself, it also inspires me. The loan I am applying for would allow me to buy good quality seeds, fertilizers and fuel. Thanks to this microcredit, I plan to plant my next harvest. I am therefore counting on your support.

Economic and social context

Tajikistan

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 which is in charge of administrating the loan and repaying MicroWorld lenders.

  • Time on MicroWorld: 595 months

Rates and transparency

  • This loan 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.

The MFI