Translated version of this PSD: Russian
Project Description
A 3-year senior loan to ForteBank JSC ("Forte") in the amount of up to USD 50 million in KZT equivalent. The financing will be used for on-lending to eligible private micro, small and medium-sized enterprises (MSMEs) in Kazakhstan.
Project Objectives
The project aims to support local currency lending to the MSME sector in Kazakhstan by providing long-term financing to Forte, one of the largest lenders in the country. A special focus will be given to distribution of funds in the regions outside the cities of Astana and Almaty.
Transition Impact
The project will support Forte's lending to private MSMEs in Kazakhstan and improve access to long-term funding in local currency for MSMEs. The project will also focus on regional outreach and attraction of new MSME clients.
Client Information
FORTE BANK JSC
Forte is the 5th largest bank (out of 32) in the country with total assets of USD 4.3 billion, equity of USD 584.4 million and market shares of 6.2% in total assets, 4.3% in customer loans and 6.2% in deposits as of YE2017.The bank offers a wide range of retail, corporate and MSME products via its distribution network of 19 branches and 145 outlets in 39 cities and rural settlements of Kazakhstan.
EBRD Finance Summary
USD 50,000,000.00
A senior loan of up to USD 50 million in KZT equivalent.
Total Project Cost
USD 50,000,000.00
USD 50 million in KZT equivalent.
Environmental and Social Summary
Categorised FI. Forte 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
In January 2018 EBRD launched Regional Small Business Program for Central Asia ("RSBP" or the "Program") to extend the support for its overall operations in the field of MSME finance, in five Central Asian countries (Kazakhstan, Kyrgyz Republic, Tajikistan, Uzbekistan and Mongolia). The bank's specialists will be able to benefit from training to be offered by the Program in the area of underwriting, risk management, agri-lending and non-credit financial products.
Company Contact Information
Dinara Raizhanova
DRaizhanova@Fortebank.com
+7 (7172) 59 99 99 (ext.10255)
+7 (7172) 59 99 99
www.forte.bank
8/1 Dostyk str., 010017 Astana, Kazakhstan
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)
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP
Project Complaint Mechanism (PCM)
The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.
Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.
