CJSC MDO IMON INTERNATIONAL
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Micro Deposit Organisation 'IMON International' is a microfinance institution (MFI) with a leading position in the microfinance sector within Tajikistan. IMON was established in 1999 by Mercy Corps and the National Association of Business Women of Tajikistan with the mission to promote sustainable economic development by ensuring reliable access to financial services for the economically active members of the population. As of December 2012, total assets amounted to US$86 million, with a net loan portfolio of US$67 million and equity base of US$16.6 million. IMON operates 113 offices throughout the country, thereby serving over 68,500 borrowers mainly through individual lending. IMON is active in both rural and urban areas, paying special attention to the capacity building of women and female entrepreneurs. IMON is mainly exposed to trade (35%), agriculture (25%) and consumer loans (20%).
What is our funding objective?
The transaction consists of an equity investment for a 12.5% ownership stake, and a senior loan. IMON aims to grow into a fully registered commercial bank. As a shareholder, FMO will support this process while enabling the bank to attract additional funding to further grow its loan portfolio and to stay the leading provider of microfinance loans in the market.
Why do we fund this investment?
FMO's investment in IMON is our first equity investment in Tajikistan, one of the few low-income countries in the Europe and Central Asia region. FMO is fully supportive of IMON's vision and mission, and its transformation process to a commercial bank. IMON is a strong player in the microfinance sector, and has set social performance as one of its top priorities.
More investments
| Date | Total FMO financing |
|---|---|
| 7/24/2020 | USD 0.80 MLN |
| 11/25/2020 | USD 3.00 MLN |
| 11/20/2020 | USD 2.00 MLN |
| 9/24/2013 | TJS 18.21 MLN |
- Website customer/investment
- http://www.imon.tj
- Region
- Europe & Central Asia
- Country
- Tajikistan
- Sector
- Financial Institutions
- Effective date
- 9/24/2013
- Total FMO financing
- USD 6.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C