Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

23 Jul 2002



PSD disclosed:

09 Jul 2002

Project Description

US$ 50 million syndicated loan to Kazkommertsbank. The loan will allow Kazkommertsbank to continue to finance strong private sector companies with little access to term funding. The loan will strengthen KKB's funding base, allowing it to provide financing to private sector companies that have few alternatives for attracting term loans in Kazakhstan.

Transition Impact

KKB is one of few sources of term financing in Kazakhstan. This facility will allow the bank to continue to finance strong private sector companies with little access to term funding. The facility has also had a strong demonstration effect since it attracted commercial banks to accept longer tenors on KKB then they have previously.

The Client

Kazkommertsbank (KKB) was formed in 1990. KKB is a private institution and is the largest bank in Kazakhstan in terms of assets and equity. KKB is a fully licensed commercial bank offering a complete range of banking products in both tenge and foreign currencies.

EBRD Finance

US$ 30 million (€31 million) "A" loan for the Bank's own account with a four-year maturity. The remaining US$ 20 million has been successfully syndicated to commercial banks including Bayerische Hypo- und Vereinsbank AG, Landesbank Schleswig-Holstein Girozentrale, Citibank N.A., Erste Bank, Hamburgische Landesbank - Girozentrale - and Natexis Banques Populaires.
The maturity of the "B" loan is four years with a repayment option after two years.

Project Cost

US$ 50 million (€52 million).

Environmental Impact

KKB will continue to carry out its operations in accordance with EBRD's Environmental Procedures for Banks. In implementing these procedures, KKB requires its borrowers to comply, at a minimum, with national health, safety and environmental requirements. A summary environmental analysis of this project is annexed to this document.

Technical Cooperation


Company Contact


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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