ASTANA, Kazakhstan, December 5. The European Bank for Reconstruction and Development (EBRD) will provide a senior loan of up to $8 million (7.5 million euros) in KZT equivalent, as determined at the time of disbursement, to Shinhan Bank Kazakhstan ("SBK") - a mid-sized Kazakhstan bank (owned by Shinhan Bank Co. Ltd., South Korea), Trend reports.
The loan will be provided in two equal tranches under the Youth in Business Program for Central Asia (YiB CA, "the program"), which will be rolled into a blended finance program under the Financial intermediaries Framework.
The loan will be fully guaranteed by Shinhan Bank Co. Ltd. (parent bank).
The European Bank for Reconstruction and Development's current project portfolio in Kazakhstan reaches 2.8 billion euros as of October 31, 2023, based on the implementation of 114 active portfolio projects.
Investments in sustainable infrastructure projects account for 70 percent of the overall portfolio (1.97 billion euros). The industry, commerce, and agribusiness sectors also benefit significantly from EBRD's investments, with projects worth approximately 689 million euros making up around 24 percent of the portfolio.
Furthermore, the EBRD's support for the financial sector of Kazakhstan, with investments in financial institutions comprising 5 percent of the portfolio, amounts to 148 million euros.