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Partner Description:

IMON International (IMON) is a microfinance institution in Tajikistan that provides access to high quality financial products and services including business loans, agriculture loans, consumer loans and micro-leases. Aiming to alleviate poverty, the organization helps unbanked individuals establish businesses in different sectors, including manufacturing, agriculture and service.

Tajikistan is one of the poorest countries in Central Asia, with about half of the population living on less than US$2 per day. The civil war, which ignited soon after its independence from the Soviet Union, further damaged its already weak economy. In addition, 93% of the country is mountainous and only 7% of the land is arable. These conditions have resulted in high levels of unemployment and have forced hundreds of thousands to seek work in other countries, mainly Russia. In fact, remittances account for 40% of Tajikistan’s GDP.

With 16 branches throughout Tajikistan, IMON has helped more than 50,000 people to date and has a portfolio of over $68 million. Approximately 38% of these clients are women and 60% live in rural areas. Kiva lenders’ funds will help the organization expand its outreach to even more entrepreneurs, farmers and traders in Tajikistan.

IMON International’s impact and partnerships:

According to the  Association of Microfinance Organizations in Tajikistan, IMON’s portfolio accounts for 29% of all the microfinance clients in the country. Additionally, IMON has an active and successful track record of working with various international donors and investors including MercyCorps, IFC, GIZ, EBRD, ADB and more. Recently, the organization has shifted from focusing exclusively on micro-lending to offering deposit services as well, promoting a saving culture in the country.