Why we invested

AV Ventures provided Furuz, a microfinance institution in Tajikistan, with a revenue-linked loan to strengthen its liquidity during the economic disruptions caused by the COVID-19 pandemic. In Tajikistan, access to formal banking services remains limited, particularly for women and entrepreneurs in rural areas. Furuz plays a vital role in closing this gap, serving more than 4,200 clients, including 1,280 women, with microcredit products that finance small businesses, education, and essential household needs.

The investment is aligned with the Central Asia Impact Fund’s commitment to advancing financial inclusion and empowering underserved communities. By supporting Furuz, AV Ventures is helping to sustain an institution that not only provides critical financial services but also enables clients to invest in income-generating activities, improve their living standards, and build long-term resilience. Furuz’s work complements educational investments like Kupuev Academy by ensuring that once people acquire the necessary skills, they also have access to the financial resources needed to turn those skills into sustainable livelihoods.

Company Description:
Furuz is a licensed microfinance institution based in Tajikistan, offering small loans to rural microentrepreneurs and households. Over 30% of its client base are women, and its products help individuals access working capital, invest in agriculture or retail businesses, and improve household resilience. The AV Frontiers investment helped stabilize operations and expand outreach to over 4,200 active clients.