EBRD and KMF to Channel $25 Million into Supporting Women’s Entrepreneurship

The European Bank for Reconstruction and Development (the EBRD) will provide up to $25 million in financing to KMF to enhance financial inclusion and support for women-led or owned micro, small, and medium-sized enterprises across the country.

The agreement was concluded under the “Kazakhstan Women in Business II” program, supported by the Women Entrepreneurs Finance Initiative and the Government of the Republic of Kazakhstan.

“Women have always been at the heart of our work – more than 55% of our clients are women. This new loan from the EBRD will help even more women, particularly in rural areas, to access finance, enhance their businesses, boost productivity, and adopt sustainable, modern technologies. We also remain committed to improving financial and business literacy, especially for women in rural areas,” said Shalkar Zhussupov, CEO of KMF.

The EBRD’s financing will also support the expanding of KMF’s product line, helping KMF strengthen its leadership in the microfinance sector.

Currently, KMF accounts for nearly 18% of all microloans disbursed in Kazakhstan and has been supporting entrepreneurs for over 27 years. To date, its clients’ businesses have contributed to the creation of approximately 30,000 jobs across the country.