FIF - Kazakhstan WiB II - Forte Bank



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

04 Sep 2019



PSD disclosed:

24 Oct 2017

Translated version of this PSD: Russian

Project Description

A 3-year senior loan to ForteBank JSC ("Forte") in the amount of up to USD 10 million in KZT equivalent. The financing will be used for on-lending to eligible women-led private micro, small and medium-sized enterprises (MSMEs) in Kazakhstan.

Project Objectives

The aim of the loan is to promote women's entrepreneurship and access to finance, and more broadly women's participation in business, through the development of a strong WiB SME sector in Kazakhstan, by facilitating access to finance and advice for women-led SMEs. The loan will be complemented by the development of sustainable credit mechanisms targeted at women-led SMEs through technical assistance to Forte; and technical support for women-led SMEs in accessing know-how, business development tools and networking opportunities.

Transition Impact

The project has important transition impact potential, specifically in relation to addressing the gender related inclusion gap for access to finance in Kazakhstan. It will help Forte to develop, test, and roll out tailored sustainable credit mechanisms targeted at women-led MSMEs through technical assistance and strengthen their capacities to effectively reach out to the target segment via marketing and outreach activities. The project will also improve access to term funding in local currency for women-led MSMEs in the country. A special focus will be given to distribution of funds in the regions outside of Astana and Almaty, the administrative and financial capitals of Kazakhstan.

Client Information


Forte is the 5th largest bank (out of 32) in the country with total assets of USD 4.3 billion, equity of USD 584.4 million and market shares of 6.2% in total assets, 4.3% in customer loans and 6.2% in deposits as of YE2017.The bank offers a wide range of retail, corporate and MSME products via its distribution network of 19 branches and 145 outlets in 39 cities and rural settlements of Kazakhstan.

EBRD Finance Summary

USD 10,000,000.00

A senior loan of up to USD 10 million in KZT equivalent.

Total Project Cost

USD 10,000,000.00

USD 10 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.

Technical Cooperation

By 2018, the Government of Kazakhstan has provided in total USD 16.9 million under Donor Contribution Agreement and the Supplementary Agreement, including USD 8.5 million for Technical Assistance to PFIs and women-led enterprises under the EBRD Women in Business program in Kazakhstan, and 8.4 million to fund First Loss Risk Cover.

Company Contact Information

Dinara Raizhanova
+7 (7172) 59 99 99 (ext.10255)
+7 (7172) 59 99 99

Business opportunities

For business opportunities or procurement, contact the client company.

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General enquiries

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Tel: +44 20 7338 7168

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