The provision of a senior local currency loan under the Financial Intermediaries Framework (FIF) in the total amount of up to US$ 2m.
The proceeds of the loan will be on-lent to local private MSMEs in accordance with the requirements of the FIF Policy Statement.
ETI score: 60
Competitive: The loan will support IMON in expanding its MSME portfolio with a focus on reaching regional clients and attracting new clients.
Resilient: The project aims to ensure prudent lending practices and adequate portfolio quality.
IMON INTERNATIONAL MICROCREDIT DEPOSIT-TAKING ORGANISATION CJSC
IMON is the largest microfinance institution in the country covering around 9 per cent of total lending market in Tajikistan. The company serves over 130,000 customers via a network of 27 branches and 103 outlets located across 3 (out of 4) regions. IMON offers almost a full variety of conventional banking products to MSMEs, sole entrepreneurs and retail clients with primary focus on underserved, economically active segments of the Tajik population.
EBRD Finance Summary
Total Project Cost
Financing Structure: the EBRD offers local currency financing on terms not readily available in the market.
Gender SMART: Client seeks/makes use of the EBRD expertise for the adoption of gender standards and/or equal opportunities action plans.
Environmental and Social Summary
Categorised FI (2019 ESP). IMON is an existing client of the Bank and its environmental and social (E&S) performance has been satisfactory to date as evidenced by annual reporting on E&S matters. The 2021 E&S report shows that the Client has some E&S and Human Resources policies in place and focuses on micro-finance for individual and MSE lending (average loan size around 1,000€). This is considered as low E&S risk. In the context of this new transaction, Imon will be required to continue to comply with Performance Requirements 2, 4 and 9, and to apply EBRD's E&S Risk Management Procedures for Corporate and SME loans. Imon should continue to provide annual E&S reporting to the Bank on compliance with the applicable PRs and any other E&S matters arising during the year. There is no GET component in this transaction.
Technical Cooperation and Grant Financing
Company Contact Information
+992 3422 42353
17th Microdistrict, Building#2 Khudjand 735700 Republic of Tajikistan
PSD last updated
26 Jun 2022
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