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Ulugbek
Y. Ulugbek is 33 years old, and married with three children. He is the sole breadwinner for his family and his only income comes from the cultivation and sale of livestock at the local market. Every year, Ulugbek buys young heifers from farms in adjacent villages. He raises them with the help of his wife and children and then sells the adult cows and bulls to local butchers. Now Ulugbek is thinking about expanding his business, since the income from his present herd isn't enough to provide for his family. He plans to purchase additional young cattle. To do this, he needs to invest in a loan of 4000 TJS for his business. In order to receive this amount, Ulugbek has applied for a loan from Kiva's partner organization, IMON International.


More about Tajikistan

Tajikistan, a key post on the Silk Road, is perhaps best known for its rich history. It was the location for the end of Alexander the Great's rule, and is known for its great thinkers, philosophers, scientists and poets such as Rudaki, Ibn Sina (Avicenna), Firdousi, Omar Haiyam, Jomi, Mavlavi Rumi and many others. The country, with its epic mountain passes, is home to communities that still speak the ancient Sogdian language and a civilization that dates back to the fourth millennium BC. Even today, it is a complex mix of the Islamic faith, Soviet culture, New West culture and Central Asian traditions.


However, Tajikistan is also the poorest of the former Soviet republics. The civil war, which ignited soon after its independence from the USSR, damaged the already weak economy. In addition, 93 per cent of the country is mountainous and only 7 per cent of the land is arable. These conditions have resulted in high levels of unemployment and have forced hundreds of thousands of people 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.


More about IMON International

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. To learn more about IMON International's work, please visit www.imon.tj

Additional Information

About IMON International

IMON International (IMON) is a micro-deposit organization in Tajikistan that provides entrepreneurs with access to high quality financial products and services, including business loans, agriculture loans, consumer loans and micro-leases. Aiming to alleviate poverty, the organization helps unbanked individuals establish businesses in different sectors, including manufacturing, agriculture and service. Kiva lenders’ funds will help the organization to expand its outreach to even more entrepreneurs, farmers and traders in Tajikistan.

About Tajikistan

  • $2,700
    Average annual income
  • 142
    View loans »
    Tajikistan Loans Fundraising
  • $29,299,475
    Funds lent in using Kiva
  • 4.4
    Tajikistan Somoni (TJS) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Ulugbek to purchase young cattle in order to expand his business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 9, 2009
Listed
Jul 13, 2009
Currency Exchange Loss:
Covered
Ended:
Apr 24, 2010