The Microcredit Organization Furuz provides high quality financial services with a special focus on small business development. Through this we contribute to the development of Tajikistan.
“Our loans – your improvement”
Lack of employment is one of the main poverty and development issues in Tajikistan at this time. A large number of people want to work but are unable to find employment, or if they find work they are paid such a low salary that they cannot live on it. That is why many have to leave the country in search for work. With half the GDP coming from migrant workers, mainly from Russia, Tajikistan is the most remittance dependent country in the world.
Since 2018 we have been mentors to Joachim & Ute Jaeckle, the CEO and Company Secretary, as representatives of a social impact investor (https://transformationalsme.org). Richard also sits on the Furuz Board. We make (COVID-19 permitting!) annual visits to Tajikistan for in-person board meetings. Furuz has been growing its loan portfolio at over 30% pa since 2016, with over 60% of its portfolio being for business and agriculture.It places an emphasis on responsible lending.