Posted: 27 Jul 2009 09:35 AM PDT
We got $725 loans repaid today, and reinvested them in new microfinance projects. As Tajikistan is one of the poorest countries in the world, we concentrated the majority of today’s loans on that part of the world.
Tajikistan is known for its rich history, which includes being a key post along the Silk Road and the end of Alexander the Great’s rule. It has also produced great thinkers, philosophers, scientists and poets, including Rudaki, Avicenna, Ferdowsi, Omar Khayyam, Jomi and Rumi. 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 BC. And, 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. These conditions have resulted in high levels of unemployment and have 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.
Mavlyuda Nuralieva was one of the entrepreneurs we sponsored today. She is a married mother of four children. For more than 15 years, Mavlyuda has sold the national man’s coat called “chapan” and skullcaps.
Considering that her husband works as a teacher and earns little, the business of Mavlyuda has been a valuable source of income for her and her family over the past 15 years that she’s been in business. Mavlyuda has requested a loan of 13000 Somoni to purchase new inventory. This loan will help her to continue developing her business and provide a good income for her family.
Our today’s loans are:
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