Mikrokredit Tashkiloti Oasiscredit (Oasis)

Region and country of operations: Uzbekistan
Jurisdiction of registration: Uzbekistan
Business sector: Microfinance
Funding channeled through: Oasis Invest Uzbekistan Ltd (UK), United Kingdom, English Law

Date of agreement (month/year): 3/2022
Finnfund’s financing: USD 2,500,000
Share of Finnfund’s financing: 33.3%
Instrument: Equity
Size of project/financing: USD 7,500,000
Environmental and social category: FI-B

Project description

Inspiring Development sought to establish a new microfinance company to be called Oasis Microfinance in Uzbekistan, which is one of the few remaining underdeveloped microfinance markets in Asia. Finnfund participated in the financing of the greenfield operation.

Main development impact

Finnfund anticipates strong development impacts materializing from additional seed round equity investment enabling the offering of MSME and SME financing to a largely underserved population and market in peri-urban and rural areas of Uzbekistan. In addition, Finnfund will support Inspiring Development, which has good existing know-how and readiness, in implementing sound ESG practices in the company.

Finnfund will also facilitate the implementation of the 2X criteria in the project with the Ispiring Development team in order to advance gender equality broadly within the company and among the clientele.

Last modified: September 2022