The project

Q: What does the higher interest rate of this project mean?
A: The project is part of a pilot program where we experiment with the conditions of projects. The higher interest rate is not due to a change in the credit rating, which remains a B. The increase in interest is not paid by the financial institution or the entrepreneur.

Please note: 1st principal repayment after 12 months instead of 6 months. However, the interest payments start after 6 months.

Since joining Furuz in 2011, farmer Suhrob has used microfinance loans to revolutionize his life and his family's. Starting with vegetables and watermelons, he changed his business into growing lemons in greenhouses, becoming a local expert. Suhrob's story highlights the power of loans: "With the loans, I was able to grow my businesses and start new ones. Now, my whole family works with me." 

In addition to business development loans, Furuz offers a range of financial solutions, including agricultural support and consumer loans for education and healthcare. They are dedicated to empowering both business ventures and personal growth to contribute to positive economic change in Tajikistan. This way, your investment goes beyond encouraging the determination of entrepreneurs like Suhrob and the efforts of Furuz.

What social return could your investment make?

In Tajikistan, a critical shortage of local jobs has led many to seek employment overseas, posing significant economic and social challenges. This situation creates a pressing need for sustainable, local employment solutions to stabilise and grow the economy in Tajikistan.

Microfinance institution Furuz addresses this need by offering support to small entrepreneurs, particularly in rural areas. Their micro-loans enable these business owners, of whom 35% are women entrepreneurs, to grow their ventures and create local jobs. This focus on empowering women is crucial, as they often reinvest in their families and communities, amplifying the positive impact. Furuz's efforts demonstrate the powerful role of microfinance in stimulating economic growth and promoting gender equality in Tajikistan.
 

What financial return could your investment generate? 

• Annual interest rate of 7,5%
• The maturity of the loan is 24 months
• Grace period: the first repayment of your investment will be made after 12 months. After that, there will be a repayment every 6 months
• With an investment of 1,000 euros, your expected repayment would be 1,113 euros

The story of Furuz

Furuz, founded in 1999, began as a micro-lending program and, with support from Millennium Relief and Development Services, transformed into a commercial entity in 2005. By 2022, it had grown into the Microcredit Deposit Organization “Furuz,” offering a range of financial services, including deposits and currency exchange.

Furuz is committed to Tajikistan's sustainable development, focusing on small businesses, financial inclusion, and gender equality. Having issued over 48,000 loans totaling $43 million USD, Furuz has significantly contributed to job creation and economic growth in the region, with an aim to expand and diversify its client base continually.

Furuz in numbers

• Founded in 1999
• Furuz employs 120 staff members across its 8 branches
• 6,000 active borrowers
• 65% of the borrowers are male, and 35% are female
• Issued over 48,000 loans totaling $43 million USD