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
IMON (“the Company”) is a Tajik microfinance institution with a balance sheet of ~ USD 115m, in which FMO currently holds a 12.47% share.
What is our funding objective?
This is a pro-rata buy-out of the IMON foundation (founder of the MFI) with existing shareholders EBRD and MikroKapital.
Why do we fund this investment?
Following insights into the substandard AML and procurement processes of the Client, a (FMO) Taskforce had been set up, with assistance of Deloitte in November 2019, to identify/scope possible exit scenarios for a responsible exit. The Taskforce believes that by participating in this transaction, it could support the organization and secure an exit in the future that complies with the success criteria as defined.
What is the Environmental and Social categorization rationale?
IMON is a E&S B-risk and the company is Smart certified.
More investments
| Date | Total FMO financing |
|---|---|
| 11/25/2020 | USD 3.00 MLN |
| 11/20/2020 | USD 2.00 MLN |
| 9/24/2013 | TJS 18.21 MLN |
| 9/24/2013 | USD 6.00 MLN |
- Website customer/investment
- http://www.imon.tj
- Region
- Europe & Central Asia
- Country
- Tajikistan
- Sector
- Financial Institutions
- Publication date
- 9/15/2020
- Effective date
- 7/24/2020
- Total FMO financing
- USD 0.80 MLN
- Funding
- FMO NV
-
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) - B