Translated version of this PSD: Russian
The provision of a 3-year local currency senior loan in the amount of up to US$ 10 million in KZT equivalent to Bank CenterCredit JSC ("BCC"). The financing will be used for on-lending to eligible women-led private micro, small and medium sized enterprises (MSMEs) in Kazakhstan.
The aim of the loan is to promote women's entrepreneurship and access to finance, and more roadly women's participation in business, through the development of a strong Women in Business SME sector in Kazakhstan, by facilitating access to finance and advice for women-led MSMEs.
The loan will be complemented by the development of sustainable credit mechanisms targeted at omen-led MSMEs through technical assistance to BCC; and technical support for women-led SMEs in accessing know-how, business development tools and networking opportunities.
The project has important transition impact potential, specifically in relation to addressing the gender related inclusion gap for access to finance in Kazakhstan. It will help BCC develop, test, and roll out tailored sustainable credit mechanisms targeted at women-led MSMEs through technical assistance and strengthen their capacities to effectively reach out to the target segment via marketing and outreach activities. The project will also improve access to term funding in local currency for women led MSMEs in the country. A special focus will be given to distribution of funds in the regions outside of Nur-Sultan and Almaty, the administrative and financial capitals of Kazakhstan.
BANK CENTERCREDIT JSC
JSC Bank CenterCredit ("BCC") is the 6th largest bank (out of 28) in Kazakhstan with total assets of US$ 4 bln and equity of US$ 279 mln and market shares of 6.0 per cent in total assets, 7.9 per cent in customer loans and 6.2 per cent in deposits as of the end of 2018. The bank offers a wide range of retail, corporate and MSME products via its distribution network of 18 branches and 103 outlets in 18 cities and rural settlements of Kazakhstan.
EBRD Finance Summary
A senior loan of up to US$ 10 million in KZT equivalent.
Total Project Cost
US$ 10 million in KZT equivalent.
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.
BCC will continue to benefit from the EBRD's Kazakshtan Women in Business Programme (KazWiB), funded by the the Government of Kazakhstan. Since 2015, the Government of Kazakhstan has provided US$ 16.9 million under the Donor Contribution Agreement and the Supplementary Agreement with the EBRD to support implementation of the KazWiB. Out of this amount US$ 2.5 million was provided for Technical Assistance to partner financial institutions (PFIs), US$ 6 million for Technical assistance in support of capacity building to women-led MSMEs, and US$ 8.4 million for credit enhancement in the form of a First Loss Risk Cover.
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