Loan Illustration

I have a lorry, which I use for my job to transport heavy items such as pipes and bricks. Over the years I saved enough money to buy cattle and land. Now I woul…

Agriculture Agriculture

Tajikistan Tajikistan

Loan amount €940

Funded 100%

by 18 members

Loan fully repaid by the entrepreneur

Disbursement date: 08/01/2012
Final repayment of the loan: 02/01/2013

ENGIE by MicroWorld's investors have funded: €940

Nematov - Expand activity

Borrower

First name: Nematov
Gender: Male
Age: 32
Marital status: Single
Number of children: 0
Region: Yavan

Loan Request

Purpose: Expand activity
Amount: €940
Duration: 6 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 have a lorry, which I use for my job to transport heavy items such as pipes and bricks. Over the years I saved enough money to buy cattle and land. Now I would like to expand my activities into agriculture. However, I don't have the necessary funds to start this. So I applied for a loan with the hopes of buying two cows and expanding my land. In addition to expending my land, I would like to be financially secure enough so I can get married.

Project follow-ups

  • 24.03.2014

    I received a loan to expand my activity in crop production. I bought mineral fertilizers for the land where I work. This kind of activity is the main source of income of my family. With the help of MicroWorld, I could increase my activities and from the benefit I bought a tractor. I am very grateful for your support. Also in the future, I want to continue the partnership with Humo and buy cattle for my other business. I hope for your kindness.

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
GDF SUEZ contributes to this project.

MFI Status

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

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

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 statusNBFI (Non-Bank Financial Institution)
Number of borrowers12,478
Size of loan portfolio$7,915,344
Average loan balance$634
Average borrower interest rate3.6% per month
Total number of staff225
PAR (Portfolio at Risk)1.79%
Social indicators
Average amount / GDP per capita (Accessibility for the poorest)81.62%
Percentage women borrowers36%
Savings accounts opened by the clientsNo
Guarantees required to access a loanJoint and several guarantee (group), ownership (individual)
Special programmes“Start-Business” programmes with loan, training and guidance.