M. Mumin is a family man who wants to expand his business so that he can better support his family and give it a better quality of life. Eleven years ago, Mumin started selling spare parts for various types of cars. His business has grown little by little, and now offers a variety of products. His started with capital worth no more than $1,000. Today, Mumin has been working with IMON International for almost two years, and feels very satisfied with the support he has received, because it has allowed him to increase his business, satisfy the needs of his customers and support his family. Mumin has applied to borrow $1,900 to buy new goods for his store. He wants to expand his business and increase his income to create a better life for his family.
More about Tajikistan and IMON International
Tajikistan is perhaps best known for its rich history, which includes a key post along the Silk Road; Alexander the Great's rule; and many famous great thinkers, philosophers, scientists and poets, including Rudaki, Ibn Sina (Avicenna), Firdousi, Omar Haiyam, Jomi, Mavlavi Rumi and many others. 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 B.C. 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. hese conditions have created high levels of unemployment and 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 solid 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.