The provision of a 3-year local currency senior loan in the amount of up to US$ 40 million in KZT equivalent to Bank CenterCredit JSC (BCC). The financing will be used for on-lending to eligible private micro, small and medium enterprises (MSMEs) in Kazakhstan.
The Project continues to support local currency lending to the MSME sector in Kazakhstan by providing long-term financing to BCC, one of the largest lenders in the country. A special focus will be given to the distribution of funds in regions outside the cities of Nur-Sultan and Almaty.
ETI score: 60
The project will promote prudent commercial risk-based lending to private MSMEs in Kazakhstan, support BCC's expansion in MSME financing and building healthy portfolio, and improve access to long-term local currency funding for local MSMEs. The project will also focus on regional outreach and attracting new MSME clients.
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$D 340 million, and market shares of 5.5 per cent in total assets, 6.2 per cent in customer loans and 5.2 per cent in deposits as of YE2021. The bank offers a wide range of retail, corporate and MSME products via its distribution network of 19 branches and 127 outlets in 19 cities and rural settlements of Kazakhstan.
EBRD Finance Summary
A senior loan of up to US$ 40 million in KZT equivalent.
Total Project Cost
US$ 40 million in KZT equivalent.
Combination of investments with technical assistance; medium-term tenor of the facility, otherwise not available in the market.
Environmental and Social Summary
Categorised FI. BCC 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 and Grant Financing
The bank will continue to benefit from Technical Cooperation under the Regional Small Business Programme for Central Asia through participation in centralised training workshops and e-learning courses. Initial funding for the TC programme is provided under the SME Finance Facility for Central Asia supported by the EU Investment Facility for Central Asia.
Company Contact Information
+7 (727) 259 85 46
38 Al-Farabi Avenue, Almaty, 050059, Kazakhstan
PSD last updated
13 May 2022
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