Incofin Investment Management’s Rural Impulse Fund II (RIF II) together with Triodos Microfinance Fund (TMF) and Triodos Fair Share Fund (TFSF), funds managed by Triodos Investment Management, have taken a minority stake of 36% in the Tajik Microcredit Deposit-taking Organization (MDO) Arvand LLC. Incofin IM and Triodos Investment Management will both take up board positions in Arvand’s board of directors. In addition, technical assistance projects will be geared towards further capacity building, increasing the organization’s geographical outreach, and expanding the range of financial products offered.
Ulugbek Khusanov, Chairperson of the Board of Directors of MDO Arvand LLC said, “It is a great honour for Arvand to welcome international investors entering into the capital of the organization. With this investment, Arvand increases not only the capital base, but also attracts international experience and expertise by involving highly experienced banking and social finance professionals to the board of directors. We are confident this will help Arvand to continue to play a leading role in the development of microentrepreneurship, by providing tailor made and innovative products.” Edwin Zimmermann, Private Equity Manager at Incofin IM and responsible for this RIF II investment added, ”We are pleased to contribute to the further sustainable growth of MDO Arvand LLC and to support the organization in its mission to improve the livelihood of population in Tajikistan through the delivery of suitable microfinance products and services.”