MFO «KMF» JSC concluded a $50mn loan agreement with the International Finance Corporation (IFC)

Almaty, September 10, 2024 – «MFO «KMF» JSC informs that the company has signed a $50mn loan agreement with the International Finance Corporation (IFC).

The funds received will be used to finance entrepreneurs, particularly in underbanked rural areas.

In Kazakhstan, small business is the backbone of the economy, so the funds received will be utilized to support small businesses, women entrepreneurs and agricultural borrowers to contribute to economic growth and creating new jobs, and will give KMF an option to continue supporting sustainable growth by providing microfinance services to a wide range of clients in the Republic of Kazakhstan.

“We are pleased that our long-term partnership with IFC is strengthening further. This cooperation not only supports our current initiatives, but also opens up new opportunities to expand operations and extend financial inclusion for numerous small and medium-sized enterprises in Kazakhstan,” said Shalkar Zhussupov, CEO of KMF.

The terms of the agreement include a flexible interest rate and a convenient repayment schedule, which will allow KMF to effectively manage its financial resources and keep its operations stable. In addition, KMF undertakes to comply with all risk management requirements set by the IFC, which is an important step in ensuring the company’s sustainable development.