The EBRD is committing credit lines to help small businesses in Kazakhstan access much-needed financing in the local currency, tenge.
Working with a new partner in Kazakhstan, ForteBank, the EBRD will provide a total in tenge equivalent to US$ 60 million to micro, small and medium-sized enterprises (MSMEs) across the country. Of this amount, the tenge equivalent of US$ 10 million will be earmarked under the EBRD’s Women in Business programme for small firms owned or run by women.
The loans will be supported by technical support to assist ForteBank with improvements in MSME credit-risk management and underwriting techniques, enhancement of performance measurement and reporting methodology, and training of MSME loan officers. In addition, Forte Bank will benefit from a capacity-building component that will enable the bank to reach out to women-led MSMEs through the introduction of new or improved products and processes, according to EBRD.
For more on this story visit the following link: EBRD supports Kazakh MSMEs with US$ 60 million credit line in local currency
Source: The Financial