The provision of a senior loan of up to US$5 million to Microfinance organisation KMF ("KMF"), a limited liability company under the Pilot Green Economy Financing Facility ("GEFF") Framework.
The loan will allow KMF to support local currency lending lending to the micro, small and mediumsized enterprises and residential sectors in Kazakhstan for energy efficiency, renewable energy, and resource efficiency purposes.
The loan, provided under the Pilot GEFF Framework, will contribute to the Green Transition Impact quality with 100 per cent of the use of proceeds allocated to Green Economy Transition ("GET") activities. The loan will support the transition to an environmentally sustainable, low-carbon and climate-resilient economy in Kazakhstan. The changes to the business products, introduced by KMF will provide significant demonstration effect to the wider market and encourage technology manufacturers and vendors to collaborate in increasing the local availability of climate technologies.
MFO KMF LLC
KMF is a long-standing client of the EBRD since 2005. It is the largest private microfinance organization in Kazakhstan. The company operates through 114 offices and has over 250,000 active clients.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised FI (2014 ESP). MFO KMF, Kazakhstan, is an existing EBRD client and is compliant with PRs 2, 4 and 9 under existing exposures. The borrower has an Environmental and Social Management System (ESMS) in place since 2014 and has provided satisfactory reporting to date on E&S matters. KMF will be required to continue to apply the EBRD's E&S Risk Management Procedures for MSME loans, comply with the PRs and submit annual E&S reports to the EBRD.
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