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Tajikistan > IMON International

IMON International's mission is to promote sustainable economic development and improved quality of life in Tajikistan by insuring reliable access to financial services for the economically active members of the population. They are working to accomplish this by:

• Providing entrepreneurs with access to high quality financial products and services such as business loans, agro loans, consumer loans, and micro leases;
• Attracting high quality employees and promoting their professional development;
• Maintaining a sustainable and self-sufficient microfinance institution.

IMON International has 8 branch offices throughout Tajikistan and their entrepreneurs work in many parts of the country's economic sector including trade, manufacturing, agriculture, and services. As of October 2008, IMON International had 27,802 active clients and a total portfolio of $28,405,549. Approximately 44% of these clients are women, 65% are from rural areas, and 60% are living under the poverty line. In addition, IMON International's portfolio accounts for 31% of all the microfinance clients in Tajikistan, according to AMFOT (the Association of Microfinance Organizations in Tajikistan).

Tajikistan
Tajikistan is perhaps best known for its rich history and diverse culture, which is a mix of the Islamic faith, Soviet influence, and Central Asian traditions. It served as a key post along the Silk Road and marked the end of Alexander the Great's extensive rule. It was the birthplace of the great Persian poet Rudaki and famous Islamic philosopher Ibn Sina. And it is home to epic mountain passes, communities that still speak the ancient Sogdian language, and a civilization that dates back to the 4th millennium BC.

But, Tajikistan is also the poorest of the former Soviet republics. The civil war, which ignited soon after its independence from the U.S.S.R., further damaged the already weak economy. In addition, 93% of the country is mountainous and only 7% of the land is arable. These conditions have resulted in high levels of unemployment and have forced hundreds of thousands to seek work in other countries, mainly Russia. While the people of Tajikistan are working to improve its agricultural production and manufacturing sector, nearly two-thirds of the population still live in abject poverty.

IMON's History
Since December 2007, IMON International has worked closely with Kiva and Kiva lenders to ensure that poor and low income clients represent a viable business proposition. Funds raised through Kiva have already been distributed to thousands of IMON International's clients and will continue to provide thousands more with permanent access to the varied financial services they need.