BAKU, Azerbaijan, March 17. The European Bank for Reconstruction and Development is exploring the opportunity to provide $35 million to Kazakhstan’s Microfinance Organization KMF under Kazakhstan’s Women in Business Program II, Trend reports, citing the EBRD.
The loan will be provided with a tenor of three years.
The funds will be used to improve the access to finance of female entrepreneurs, stimulate the participation of women in business activities, and provision of consulting services.
The project is expected to contribute to fostering inclusive business practices in Kazakhstan, in addition to developing a more robust female women-led private micro, small and medium enterprises (MSMEs) system in this Central Asian country.
Microfinance Organization KMF, a client of the EBRD since 2005, is the largest private microfinance organization in Kazakhstan with a market share of 22.3 percent, total assets of US$ 504 million, total equity of US$ 114 million, over 250,000 active clients and 114 offices. The company is rated B+ by Fitch (26 May 2022), with a stable outlook.