Translated version of this PSD: Russian
A 3 year senior loan to ForteBank JSC in the amount of USD 50 million in KZT equivalent. The financing will be used for on-lending to eligible private micro, small and medium sized enterprises (MSMEs) in Kazakhstan.
The Project aims to support local currency lending to the MSME sector in Kazakhstan by providing longer term financing to Forte. A special focus will be given to distribution of funds in the regions outside the cities of Astana and Almaty.
The proposed project will improve the access to long-term funding in local currency for MSMEs in the country. A special focus will be given to the distribution of funds in the regions outside Astana and Almaty, the administrative and financial capitals of Kazakhstan.
Forte is the 8th largest bank (out of 35) in the country with total assets of USD 3.0 billion, equity of USD 494 million and market shares of 4.5% in total assets, 3.3% in customer loans and 4.7% in deposits at 1Q2016. The bank offers a wide range of retail, corporate and SME product offering via its distribution network of 19 branches and 145 outlets in 39 cities and rural areas.
EBRD Finance Summary
A senior loan of USD 50 million in KZT equivalent.
Total Project Cost
USD 50 million in KZT equivalent.
Environmental and Social Summary
Categorised FI. Forte will be required to comply with PRs 2, 4 and 9 and adopt and implement the EBRD's E&S Risk Management Procedures for MSME loans and submit Annual Environmental and Social Reports to the EBRD.
The proposed loan will be supported by MSME lending TC project to assist the ForteBank with improvement in MSME credit risk management and underwriting techniques, enhancement of performance measurement and reporting methodology, training of MSME loan officers.
Company Contact Information
Tel: +7 (7172) 59 99 99
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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