BAKU, Azerbaijan, Apr. 9
By Nargiz Sadikhova - Trend:
The European Bank for Reconstruction and Development (EBRD) is considering provision of a local currency senior loan to Bank CenterCredit JSC (BCC) under the Green Economy Financing Facility (GEFF) Kazakhstan, Trend reports citing the EBRD.
The loan under consideration is a three-year local currency senior loan of up to $20 million in tenge equivalent. The loan will allow BCC to support local currency lending to eligible private micro, small and medium-sized enterprises (MSMEs) for investments in climate change mitigation and adaptation technologies.
The loan will contribute to the Green Transition Impact quality with 100 percent of the use of proceeds allocated to Green Economy Transition (GET) activities. The project supports BCC's lending to private MSMEs in Kazakhstan for investments in climate change mitigation and adaptation projects supporting GET.
BCC is the fifth largest bank (out of 26) in Kazakhstan with total assets of $4.4 billion, equity of $313 million and market shares of 5.9 percent in total assets, 7.1 percent in customer loans and 5.5 percent in deposits as of late 2020.
The bank offers a wide range of retail, corporate and MSME products via its distribution network of 19 branches and 117 outlets in 18 cities and rural settlements of Kazakhstan.
To date, the EBRD has invested more than €8.13 billion in the economy of Kazakhstan through 280 projects. Support for small businesses is particularly important and is in line with the EBRD’s country strategy for Kazakhstan.
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