EBRD local currency loan for Kazakhstan’s microfinance organisation “KMF”

EBRD local currency loan for Kazakhstan’s microfinance organisation “KMF”

Funds will be used to support micro and small businesses across the country.

Kazakhstan’s leading microfinance lender, Microfinance Organisation KMF, will be able to address urgent liquidity needs of micro, small and medium-sized enterprises (MSMEs) caused by the impact of the coronavirus pandemic thanks to a local currency loan provided by the European Bank for Reconstruction and Development (EBRD).

A senior loan of up to US$40 million in Kazakh tenge equivalent will help local businesses continue their business activity and preserve jobs. Providing funding in local currency will limit borrowers’ exchange rate risks.

KMF, which operates 14 branches and 111 outlets across Kazakhstan, provides financial services to over 225,000 customers across the country. It has been a partner of the EBRD since 2005.

The EBRD launched two Solidarity Packages in response to the Covid-19 crisis and now expects to dedicate its total business investments of up to €21 billion in 2020-21 to overcome the economic impact of the crisis.

To date, the EBRD has invested €8.63 billion through 273 projects in the economy of the Republic of Kazakhstan.

Читайте также

news
30.09.2017
THE 3RD QUARTER OF 2017
Details
news
30.09.2018
THE 3RD QUARTER OF 2018
Details
news
23.08.2016
Benches as a KMF’s gift to Atbasar
Details
news
31.12.2018
THE 4RD QUARTER OF 2018
Details
news
30.06.2013
THE 2ND QUARTER OF 2013
Details
news
30.07.2014
Training workshop within the project “Increase of financial literacy of the RK population” was provided in Shelek Outlet of Almaty Oblast
Details
news
30.09.2016
THE 3RD QUARTER OF 2016
Details
news
18.05.2015
KMF millionth loan
Details
news
31.03.2016
THE 1ST QUARTER OF 2016
Details