K. Ulugbek is a 33-year-old married man with 4 children and parents under his care. Ulugbek is a hard-working man who, while continuing to work another job, started his own business as a source of additional income and savings in case of unemployment. He knew many people who purchased sheep and this motivated him to start his own business 5 years ago. Over time, he has increased his sheep sales and he is proud to say that the business has been running well. Now Ulugbek needs additional capital to expand and is requesting a loan in the amount of $2200 USD to purchase additional sheep to sell. More specifically, he will reinvest the loan proceeds and grow the business, as he has been doing. Ulugbek and his family thank you very much for the support that you offer them in helping to expand his business and give their children a better quality of life.
More about Tajikistan and IMON International
Tajikistan is known for its rich history, which includes being a key post along the Silk Road at the end of Alexander the Great's rule. It has produced great thinkers, philosophers, scientists, and poets, including Rudaki, Avicenna, Ferdowsi, Omar Khayyam, Jomi, and Rumi. The country is home to communities that still speak the ancient Sogdian language, epic mountain passes, and a civilization that dates back to the 4th millennium BC. And, even today, it is a complex mixture of the Islamic faith, Soviet culture, New West culture and Central Asian traditions.
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.
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
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.