The EBRD is considering a 5 year senior loan to Shinhan Bank Kazakhstan in the amount of USD 5 million in KZT equivalent. The financing will be used for on-lending to eligible women-led micro, small and medium sized enterprises (MSMEs) in the country. The aim of the loan is to promote women's entrepreneurship and access to finance, and more broadly women's participation in business, through the development of a strong WiB SME sector in Kazakhstan, by facilitating access to finance and advice for women-led SMEs. The loan will be complemented by development of sustainable credit mechanisms targeted to women-led SMEs through technical assistance to Shinhan Bank; and technical support for women-led SMEs in accessing know-how, non-financial business development services 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. The project will improve access to long-term funding in local currency for women-led MSMEs in the country. It is also important to note that this will be the project to target women-led SMEs in Kazakhstan that encompasses via an integrated approach both the credit-supply side (ie., credit, TC and First Loss Risk Cover ) and demand side (ASB’ advisory services to the targeted women SMEs).
Shinhan Bank Kazakhstan, a 100% subsidiary of Shinhan Bank Korea, one of the largest financial institutions in South Korea, and has total assets of USD 54.8 million and equity of USD 35.9 million as of YE2015. The bank’s strategy is to diversify (i) its loan portfolio via more active operations with MSMEs, including women-led MSMEs; and (ii) funding base via cooperation with IFIs.
A senior loan of USD 5 million in KZT equivalent
USD 5 million in KZT equivalent
Categorised FI. Shinhan Bank, Kazakhstan will be required to comply with the EBRD’s Performance Requirements 2, 4 and 9, adopt and implement the EBRD’s E&S Risk Management Procedures for SME and Micro loans and submit Annual Environmental and Social Reports to the Bank.
The Government of Kazakhstan has granted USD 4.1 million for Technical Assistance to the EBRD Women in Business operations in Kazakhstan. This includes USD 1.5 million of TC for capacity building of participating financial institutions, including Shinhan Bank Kazakhstan; and USD 2.6 million for direct support to women-led enterprises via EBRD Small Business Support Team.
Mr Vitaly Kim
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