- The EBRD is providing US$ 35 million to micro lender KMF
- Funds to support women-led businesses
- At least 10 per cent of sub-loans will promote green projects
The European Bank for Reconstruction and Development (EBRD) is helping Kazakhstan’s women-led micro, small and medium-sized businesses by extending a new long-term loan to the country’s leading micro lender KMF.
The Bank’s funds of up to US$ 35 million will be provided in two tranches and will help promote women’s entrepreneurship and business activity by assisting with access to finance, know-how and technical advice.
It is expected that at least 10 per cent of the loans from KMF will promote the reduction of energy consumption, encourage greater use of renewable energy sources and help these local businesses adopt environmentally friendly practices.
KMF, the Bank’s client since 2005 and which provides nearly a quarter of micro loans in the country each year, will receive technical assistance under the green lending facility, GEFF Kazakhstan II, recently launched by the EBRD, as well as under the new Kazakhstan Women in Business Programme II.
With more than €10 billion invested in the country to date through 304 projects, Kazakhstan is the EBRD’s largest and longest-running banking operation in Central Asia.