- EBRD lends US$ 25 million (€22.6 million) to Home Credit Bank Kazakhstan
- Loan will promote green lending under the EBRD’s Kazakhstan Green Economy Financing Facility II
- Project is supported by Climate Investment Funds
The European Bank for Reconstruction and Development (EBRD) is helping companies in Kazakhstan modernise production, increase efficiency and improve their climate resilience by providing funds to its new financial intermediary Home Credit Bank Kazakhstan (HCBK).
The senior loan of up to US$ 25 million (€22.6 million, in KZT equivalent) will be extended to HCBK under the EBRD’s Kazakhstan Green Economy Financing Facility II (GEFF Kazakhstan II), which aims to promote the use of renewable energy sources and help companies and households in the country reduce energy consumption.
The loan will help HCBK, which operates 18 branches and 31 offices across the country, expand its green investments and adopt gender-responsive lending practices.
Its private-sector clients will be able to use the GEFF Kazakhstan II Green Technology Selector to select high-performing green goods, equipment and technologies.
The project is supported by the Climate Investment Funds.
The EBRD has invested more than €10.6 billion across 335 projects in Kazakhstan, with most of the funds supporting private entrepreneurship.