DUSHANBE, TAJIKISTAN, JANUARY 27, 2016. – The U.S. Agency for International Development (USAID) approved an investment of $1 million to the First MicroFinance Bank of Tajikistan (FMFB-T), which will be matched by a $1 million investment from the Aga Khan Foundation (AKF). This adds to a recent investment of $1.2 million mobilized from the KfW Development Bank. Together, these funds will help catalyze the growth of FMFB’s small and medium enterprise and microfinance loan portfolios, and operations around the country, helping to create jobs and promote intra- and international trade.
This investment is the first-ever co-investment by USAID and AKF in a social enterprise, and the first investment made under the USAID-AKF Global Development Alliance (the “alliance”) entitled Economic and Social Connections: a Multi-Input Area Development Financing Facility for Tajikistan (ESCoMIAD). The Alliance focuses development resources on major sectors that influence quality of life: economic growth through enterprise development; household financial security; governance and civil society; health; and education.
Read the full press release here.