The provision of a 3-year local currency senior loan of up to US$ 20 million in KZT equivalent to Bank CenterCredit JSC (BCC) under the Green Economy Financing Facility (GEFF) Kazakhstan II.
The loan will enable BCC to support local currency lending to eligible private sector sub-borrowers for the Green Economy Transition (GET) investments.
ETI score: 70
The loan will contribute to the Green Transition Impact quality with 100 per cent use of proceeds allocated to GET activities. The project supports BCC's lending to private sector sub-borrowers in Kazakhstan for investments in sub-projects supporting GET.
BANK CENTERCREDIT JSC
BCC is the 7th largest bank (out of 22) in Kazakhstan with total assets of US$ 4.8 billion, equity of US$ 340 million, and market shares of 5.5 per cent in total assets, 6.2 per cent in customer loans, and 5.2 per cent in deposits as of YE2021. The bank offers a wide range of retail, corporate and MSME products via its distribution network of 19 branches and 127 outlets in 19 cities and rural settlements of Kazakhstan.
EBRD Finance Summary
A senior loan of up to US$ 20 million in KZT equivalent.
Total Project Cost
US$ 20 million in KZT equivalent.
Combination of investments with technical assistance, including innovative financing structure and instruments, as well as standards setting by helping clients achieve higher standards to support transition to a low-carbon and climate-resilient economy.
Gender additionality will be achieved by reflecting gender considerations in the transactions through enhancing BCC's standards of business conduct, training of staff, and awareness campaigns targeting both female and male sub-borrowers for green financing.
Environmental and Social Summary
Categorised FI. BCC will be required to comply with PRs 2, 4 and 9 and to adopt and implement the EBRD's E&S Risk Management Procedures and submit annual environmental and social reports to the EBRD.
Technical Cooperation and Grant Financing
BCC will benefit from direct Technical Cooperation (TC) support of up to EUR 100,000 for dedicated capacity building and project origination support. The total TC package under the GEFF Kazakhstan II amounts to €2.7 million. The TC will help (i) increase financial intermediation for GET investments in RK, ii) improve the skills of PFIs in project appraisal of a wide range of eligible technologies, iii) raise awareness and build the capacity of the private sector to prioritise their investments in green technologies and services, and (iv) mainstream gender perspective into operations. The TC funds are provided by CIF, SSF and potentially other donors.
Company Contact Information
+7 (727) 259 85 46
38 Al-Farabi Avenue, Almaty, 050059, Kazakhstan
PSD last updated
13 May 2022
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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Independent Project Accountability Mechanism (IPAM)
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