- EBRD providing up to US$ 25 million (€22.9 million) to Kazakh microlender KMF
- Loan will support small businesses owned or led by women
- Funds will contribute to KMF’s growth and product range
The European Bank for Reconstruction and Development (EBRD) is helping women-led micro, small and medium-sized enterprises (MSMEs) in Kazakhstan by extending a new term loan to a leading microlender KMF, which has been an EBRD client since 2005.
The EBRD funds of up to US$ 25 million (€22.9 million) will help to promote women’s entrepreneurship and business activity by assisting with access to finance, knowledge sharing and technical advice.
The loan is provided under the EBRD’s Kazakhstan Women in Business Programme II, which the Women Entrepreneurs Finance Initiative and the government of Kazakhstan support.
KMF has over 27 years’ experience of providing financing to local MSMEs and provides nearly a quarter of all microloans in Kazakhstan. It is due to receive a banking licence and become a Tier 2 financial institution in 2025.
The EBRD has invested more than €10.6 billion across 335 projects in Kazakhstan, with most of the funds supporting private entrepreneurship.