Dushanbe, Tajikistan – FINCA Tajikistan is proud to announce a major new partnership with the International Fund for Agricultural Development (IFAD) and the European Union (EU). This strategic initiative is designed to transform the way our clients in rural areas use remittances, turning them from a means of survival into a powerful tool for building long-term financial stability and adapting to climate change.

Through this project, co-funded by the EU under the REMIT PRIME Central Asia Programme, FINCA will directly support 13,000 remittance-recipient families, impacting over 85,000 people across rural Tajikistan. We will be at the forefront of providing enhanced access to the financial tools, knowledge, and digital services they need to create lasting opportunities.

This partnership empowers us to significantly expand our outreach and deepen our impact. As Munira Nugmanova, our Acting Chief Operations Officer, stated, “This partnership will allow FINCA to place banking agents in small villages throughout Tajikistan, making it easier for rural customers to access funds and make other transactions close to home. This essential initiative will transform remittances from a survival mechanism into a pathway for financial security and economic empowerment.”

Key FINCA-led Initiatives in this Partnership:

• Expanding Our Network: We will establish a network of banking agents in small, remote villages, bringing FINCA’s services closer to our clients’ doorsteps.
• Innovating Our Products: FINCA will develop and strengthen innovative financial products specifically for remittance-receiving households, including tailored deposit accounts and loan options.
• Launching New Digital Corridors: A key feature will be the creation of new, cost-effective digital remittance corridors from Europe, Türkiye, the Republic of Korea, and the United States, integrated directly into FINCA’s services. This will make international transfers faster and more affordable for the families we serve.
• Integrating Climate Resilience: We will integrate climate resilience solutions into our financial offerings, helping our clients prepare for and adapt to environmental challenges.
• Empowering Women Entrepreneurs: The FINCA Women’s Club will play a crucial role, offering specialized training in financial literacy and business skills for rural women. A major goal of this partnership is to increase the share of women among FINCA’s new cardholders who access our savings and credit products.

Our partners have expressed great confidence in FINCA’s ability to deliver on this vision. “By partnering with FINCA Tajikistan, we are ensuring that remittances go from basic transfers seen as a means of survival to become a gateway to meaningful financial inclusion,” said Pedro de Vasconcelos, Manager of the Financing Facility for Remittances at IFAD.

This project is a testament to FINCA’s commitment to our mission of providing responsible financial services to low-income clients, especially women and those in rural areas. It reinforces our position as a leader in financial inclusion and sustainable development in Tajikistan.