EBRD provides US$35 million to microfinancer KMF
A fund that supports women-led businesses
At least 10 percent of sub-loans will drive green projects
The European Bank for Reconstruction and Development (EBRD) is supporting Kazakhstan’s women-led MSMEs with a new long-term loan to Kazakhstan’s leading microfinancer, KMF.
The bank’s funding of up to US$35 million will be provided in two installments to help foster women’s entrepreneurship and business activities by helping them access finance, know-how and technical advice.
At least 10 percent of the loans from KMF are expected to help reduce energy consumption, promote greater use of renewable energy sources, and help these local businesses adopt green practices. increase.
The KMF, a World Bank client since 2005 and providing nearly a quarter of the country’s microloans each year, is supported by the EBRD’s recently launched green lending facility, GEFF Kazakhstan II, and under the new Kazakh women. will receive technical assistance. In business program II.
Kazakhstan has so far invested more than €10 billion in the country through 304 projects, making it EBRD’s largest and longest-running banking operation in Central Asia.