MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $6m in Local Currency to IMON International of Tajikistan

The European Bank for Reconstruction and Development (EBRD), an international finance institution headquartered in London, has provided a four-year loan of TJS 29 million (USD 6.08 million) to Tajik microfinance institution (MFI) IMON International. IMON International intends to use the funds to provide longer term financing for micro- and small businesses [1].

According to the US-based nonprofit Microfinance Information Exchange (MIX), IMON International reported total assets of USD 51.3 million, a gross loan portfolio of USD 45.2 million, return on assets (ROA) of 5.07 percent, return on equity (ROE) of 18.94 percent and 42,500 active borrowers as of 2011. IMON International does not accept deposits.

EBRD is owned by 61 countries as well as the European Investment Bank and the European Union. It aims to finance operations that are both commercially viable and assist development in 29 countries in Eastern Europe, Central Asia and more recently in Southern and Eastern Mediterranean region. In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion).

By Brendan Millan, Research Associate

About Imon International LLC
Imon International LLC is a microfinance institution (MFI) in Tajikistan offering lending, leasing, consulting and advisory services to small enterprises, microfinance institutions and small banks. Imon was founded by the National Association of Business Women of Tajikistan and US-based nonprofit Mercy Corps in 1999 as “Microloans in Tajikistan”. In 2007, the founders transformed the organization into a commercial operation known as Imon International LLC. The organization has since grown to operate seven full branches and 33 field offices. According to the US-based nonprofit Microfinance Information Exchange (MIX), IMON reported total assets of USD 51.3 million, gross loan portfolio of USD 45.2 million, return on assets (ROA) of 5.07 percent, return on equity (ROE) of 18.94 percent and 42,500 active borrowers as of 2011.

About the European Bank for Reconstruction and Development
The European Bank for Reconstruction and Development (EBRD) is a development finance institution headquartered in London. The bank began operations in 1991 upon the agreement of 40 countries and is now owned by 61 countries as well as the European Investment Bank and the European Union. It aims to finance operations that are both commercially viable and assist development in 29 countries in Eastern Europe, Central Asia and more recently in Southern and Eastern Mediterranean region. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion).

Sources and Additional Resources:

[1] European Bank for Reconstruction and Development: “IMON International Gets 29 Million Tajik Somoni for Microfinance” by Anthony Williams, http://www.ebrd.com/pages/news/press/2013/130116a.shtml

MicroCapital.org story, December 24, 2012, “EBRD Loans $56m to Ohridska Banka of Macedonia, Banca Intesa Beograd of Serbia for SMEs”, https://www.microcapital.org/microcapital-brief-ebrd-loans-56m-to-ohridska-banka-of-macedonia-banca-intesa-beograd-of-serbia-for-smes/

MicroCapital.org story, December 20, 2012, “European Bank for Reconstruction and Development Loans $13.2 to BT Leasing Transilvania of Romania”, https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-loans-13-2m-to-bt-leasing-transilvania-of-romania/

MicroCapital.org story, November 14, 2012, “European Bank for Reconstruction and Development (EBRD) Lends 70m to Garanti Bank of Turkey, Hipotekarna Banka of Montenegro, Bai Tushum of Kyrgyz Republic”, https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-lends-70m-to-garanti-bank-of-turkey-hipotekarna-banka-of-montenegro-bai-tushum-of-kyrgyz-republic-2/

MicroCapital.org story, November 4, 2012, “Absolute Portfolio Management Dual Return Fund Loans $2.5m to KazMicroFinance of Kazakhstan, Imon International of Tajikistan, Frontiers of Kyrgyzstan, Thaneakea Phum of Cambodia”, https://www.microcapital.org/microcapital-brief-absolute-portfolio-management-dual-return-fund-loans-2-5m-to-kazmicrofinance-of-kazakhstan-imon-international-of-tajikistan-frontiers-of-kyrgyzstan-thaneakea-phum-of-cambodia/

MicroCapital Universe Profile: Imon International,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=IMON+International

MicroCapital Universe Profile: European Bank for Reconstruction and Development (EBRD), http://microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Bank+for+Reconstruction+and+Development+%28EBRD%29

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/

 

Similar Posts: