Furuz 6
Furuz provides microloans to small entrepreneurs in Tajikistan, helping them grow their businesses and create jobs locally. By supporting Furuz, you reduce dependence on work abroad and strengthen communities, giving families the chance to build their future at home.
The project
Sobirjon is a beekeeper in Tajikistan who received a loan from microfinance institution Furuz to expand his business. With this support, he invested in new hives and equipment, allowing him to increase honey production and provide a more stable income for his family.
In Tajikistan, many working-age men migrate abroad for employment because local job opportunities are limited. Remittances from these migrants account for nearly half of the country’s GDP, showing how dependent families are on incomes earned outside the country. While this money helps reduce poverty, it also leaves families divided and vulnerable to economic shocks.
By supporting entrepreneurs like Sobirjon, Furuz helps strengthen local communities. Microloans give small farmers the chance to grow their businesses and create employment in their own villages. This reduces reliance on migration and contributes to a more sustainable and inclusive economy. Will you join in giving families like Sobirjon’s the opportunity to build their future at home?
Furuz on Lendahand
- Active on Lendahand since: December 2023
- Total raised: €800,000
- Already repaid: €333,333
- Interest disbursed: €47,500
- Payments on time: 9 out of 9 (100%)
Your investment
- Annual interest rate: 6%
- With an investment of 1,000 euros, your expected total repayment would be 1,090 euros
- Maturity: 24 months
- Grace period: No repayments will be made during the first 6 months. The first repayment is due in month 12, followed by the second repayment in month 18, and final repayment in month 24.
- Currency: Euro
Furuz
Impact
In Tajikistan, a severe shortage of local jobs forces many to seek work abroad, leading to significant economic and social challenges. Over half of the country’s GDP comes from remittances sent by emigrated Tajiks, who often work in unstable jobs. This highlights the urgent need for sustainable local employment to stabilize and grow the economy.
Microfinance institution Furuz contributes to the solution by supporting small entrepreneurs, mainly farmers. These microloans enable them to create local jobs. Furuz’s efforts demonstrate the powerful role of microfinancing in stimulating economic growth and promoting gender equality in Tajikistan, with approximately 35% of their borrowers being women.
Related blogposts
- Read more about Furuz in their introduction blogpost.
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