Project Description
US$ 50 million syndicated loan to Kazkommertsbank. The loan will allow Kazkommertsbank to continue to finance strong private sector companies with little access to term funding. The loan will strengthen KKB's funding base, allowing it to provide financing to private sector companies that have few alternatives for attracting term loans in Kazakhstan.
Transition Impact
KKB is one of few sources of term financing in Kazakhstan. This facility will allow the bank to continue to finance strong private sector companies with little access to term funding. The facility has also had a strong demonstration effect since it attracted commercial banks to accept longer tenors on KKB then they have previously.
The Client
Kazkommertsbank (KKB) was formed in 1990. KKB is a private institution and is the largest bank in Kazakhstan in terms of assets and equity. KKB is a fully licensed commercial bank offering a complete range of banking products in both tenge and foreign currencies.
EBRD Finance
US$ 30 million (€31 million) "A" loan for the Bank's own account with a four-year maturity. The remaining US$ 20 million has been successfully syndicated to commercial banks including Bayerische Hypo- und Vereinsbank AG, Landesbank Schleswig-Holstein Girozentrale, Citibank N.A., Erste Bank, Hamburgische Landesbank - Girozentrale - and Natexis Banques Populaires.
The maturity of the "B" loan is four years with a repayment option after two years.
Project Cost
US$ 50 million (€52 million).
Environmental Impact
KKB will continue to carry out its operations in accordance with EBRD's Environmental Procedures for Banks. In implementing these procedures, KKB requires its borrowers to comply, at a minimum, with national health, safety and environmental requirements. A summary environmental analysis of this project is annexed to this document.
Technical Cooperation
None.
Company Contact
Business opportunities
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
Public Information Policy (PIP)
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Text of the PIP
