Daryo News: EBRD’s Program Boosts Youth and Women Entrepreneurship in Tajikistan

The European Bank for Reconstruction and Development (EBRD) has announced a new financial package to support inclusive lending in remote areas of Tajikistan, with a focus on youth and women entrepreneurs. The EBRD will provide $4 million to MDO HUMO, one of the country’s leading microlenders.

HUMO, which recently received the EBRD Sustainability Gold Award, will receive up to $2 million under the EBRD’s Youth in Business program in Central Asia. This program aims to improve access to finance and provide relevant training to young entrepreneurs in the region. Additionally, a loan of up to $1 million under the EBRD’s Women in Business (WiB) program for Central Asia will support women’s entrepreneurship and business activities.

The third component of the financial package includes a loan of up to $1 million to stimulate the development of micro, small, and medium-sized enterprises (MSMEs) in Tajikistan. These loans are part of a $5 million financing package designed to boost entrepreneurial activities in the country.

During the EBRD 2024 Annual Meeting and Business Forum in Yerevan, HUMO, the second largest microfinance institution in Tajikistan, won the Gold Award in the Financial Intermediaries category. To date, the EBRD has invested over $1 billion through 170 projects in Tajikistan.

The EBRD, a multilateral bank supporting the development of the private sector and entrepreneurial initiatives in 36 economies across three continents, aims to make economies competitive, inclusive, well-governed, green, resilient, and integrated. Follow Daryo’s official Instagram and Twitter pages to stay updated on world news.