EURyster Bank for Reconstruction and Development (EBRD) Designates $25 Million for Female-led Businesses in Kazakhstan's Marketplace
Loan Boost for Women-Led Businesses in Kazakhstan 🗓️ April 24
📷 Credit: Freepik
👉 Kazakhstan's micro, small, and medium-sized enterprises (MSMEs) owned or led by women are receiving a significant financial boost, thanks to a new term loan of up to $25 million by the European Bank for Reconstruction and Development (EBRD). This move seeks to bolster women's entrepreneurship and business activities in the region.
By offering financial assistance, knowledge sharing, and technical advice, the EBRD aims to make it easier for women-led businesses to access the funds they need to thrive. This initiative falls under the EBRD's Kazakhstan Women in Business Programme II, which boasts the backing of the Kazakh government and the Women Entrepreneurs Finance Initiative.
💼 KMF, a longtime EBRD client since 2005, is the recipient of the funds. With over 27 years of experience in financing local MSMEs, KMF currently provides roughly a quarter of all microloans in Kazakhstan. The microlender is anticipated to secure a banking license and evolve into a Tier 2 financial institution by 2025.
The EBRD's investment in Kazakhstan totals over 11 billion euros ($12.4 billion), with most of it poured into 335 projects that primarily support private entrepreneurship in the country.
It's not just about the money, though. The Kazakhstan Women in Business Programme II also works to promote business growth opportunities for women-led enterprises. Currently, a senior loan of up to $10 million is being extended to Bank CenterCredit under the same program.
This program's objectives align with broader efforts to stimulate economic growth in Kazakhstan while ensuring the inclusion of women in the economic development process. The supportive collaborative approach between the EBRD, the Kazakh government, and the Women Entrepreneurs Finance Initiative ensures that support for women-led enterprises is integrated into broader economic strategies in the region.
By addressing challenges such as access to capital and business resources, the EBRD's initiatives aim to empower women entrepreneurs and boost the economy for a more balanced development landscape. 💪💼
- The European Bank for Reconstruction and Development (EBRD)'s Kazakhstan Women in Business Programme II, with backing from the Kazakh government and the Women Entrepreneurs Finance Initiative, not only provides significant finance but also focuses on health-and-wellness, working to promote business growth opportunities for women-led enterprises in the region.
- As part of the Kazakhstan Women in Business Programme II, Bank CenterCredit is receiving a senior loan of up to $10 million, which not only boosts their finance for further business activities but also supports women's health and wellness, aligning with the program's objectives to stimulate economic growth while ensuring the inclusion of women in the economic development process.
