According to the EBRD, the project consists in the provision of a senior unsecured loan under the Financial Intermediaries Framework in the total amount of up to USD 2m equivalent. The loan will be structured as a synthetic Tajik Somoni loan.
As part of the transaction, Humo will introduce a new training focused on providing technical digital skills for young people in collaboration with an existing education provider. The training will be nationally accredited and certified and improve the employability of 200 young people.
The proceeds of the loan will be on-lent to local private MSMEs in accordance with the requirements of the FIF Policy Statement.
As stated by the EBRD, CJSC Microcredit Deposit Organisation "HUMO" provides a full range of banking services- deposits, lending, payments, and money transfers, serving the lower segment of the MSME clients with a focus on retail and agri lending. As of end-March 2023, Humo was the 2nd largest MFI in Tajikistan by assets (USD 108m) and by loan portfolio (USD 92m).
Financial Intermediary - Microcredit Deposit Organisation "HUMO" CJSC:
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ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.
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You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html