EBRD and Dutch FMO acquire substantial stake in Tajikistan’s leading micro lending institution

By bne IntelIiNews March 30, 2021

The European Bank for Reconstruction and Development (EBRD) and the Dutch entrepreneurial development bank FMO have paid $5.4mn to acquire a 43.5% stake in Tajikistan’s leading micro lending institution, Imon International.

The move will allow Imon to continue providing financial services to more than 100,000 micro businesses and individual borrowers across the Central Asian nation despite the exit of Imon’s main shareholder, micro-credit Fund “IMON”. The EBRD and FMO will each own 17.9% of Imon, making another shareholder, Luxemburg-based Mikro Kapital, the largest shareholder with a stake of 42.7%.

The transaction also means Imon will comply with the regulatory requirements as well as international standards of corporate governance and integrity.

“Since 2008 we have been focused on the development of microfinance, and this shares purchase of Imon International fully fits into Mikro Kapital’s strategy,” Vincenzo Trani, president of Mikro Kapital, stated. 

‘‘With this increased investment in Imon we focus on the future development of the financial institution. The target group of grassroots businesses and farmers that Imon supports is fully in line with FMO’s development objectives,” Jaap Reinking, FMO director of private equity, commented.

To date, the EBRD has invested €731mn through 139 projects in Tajikistan’s economy.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Uzbekistan’s key rate held at 14% as central bank points to fears over reacceleration of inflation

Uzbekistan's central bank on April 25 kept its benchmark interest rate on hold at 14%, pointing to risks that inflation could once more accelerate. Planned hikes of state-regulated prices for ... more

Bulgaria's BACB to acquire 99.94% of Tokuda Bank

The Bulgarian-American Credit Bank said on April 16 it has agreed to acquire 99.94% of local Tokuda Bank from Japan-based Tokushukai Incorporated. The two banks are among the smallest in Bulgaria ... more

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    5 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss