Loan Illustration

My name is Farizi, I make iron doors. I decided to expand my activities and buy more iron in order to be able to offer more creations to my customers. Every day…

Production Production

Tajikistan Tajikistan

Loan amount €300

Funded 100%

by 6 members

Funding disbursed to MFI, repayments ongoing

Disbursement date: 03/01/2019
Final repayment of the loan: 03/01/2021

Accenture by MicroWorld's investors have funded: €300

Farizi - Purchase raw materials

Borrower

First name: Farizi
Gender: Male
Age: 28
Marital status: Single
Number of children:
Region: Kulob

Loan Request

Purpose: Purchase raw materials
Amount: €300
Duration: 24 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

My name is Farizi, I make iron doors. I decided to expand my activities and buy more iron in order to be able to offer more creations to my customers. Every day, I receive more and more orders. For this reason I am applying for a microcredit. I am counting on your support.

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

MFI Status

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

  • Time on Accenture by MicroWorld: 600 months

Rates and transparency

  • This loan does not pay any interest to the lender.
  • 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 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