International Financial Institution, EBRD, to Provide $25 Million for Woman-Run Businesses in Kazakhstan
Empowering Women Entrepreneurs in Kazakhstan
Step up, entrepreneurial ladies of Kazakhstan! The European Bank for Reconstruction and Development (EBRD) is dishing out some serious cash to help you make your mark in the business world. With a whopping $25 million loan to leading microloan provider KMF, women-led micro, small, and medium-sized enterprises (MSMEs) are set to thrive.
Credit: freepik
This generous financing comes as part of the EBRD's Kazakhstan Women in Business Programme II, backed by the Kazakh government. The goal? To promote women's entrepreneurship and stimulate business activity by bridging the finance gap, sharing knowledge, and offering technical advice.
KMF, a trusted partner of the EBRD since 2005, has been busy financing local MSMEs for over 27 years. Currently responsible for providing nearly a quarter of all microloans in Kazakhstan, KMF is expected to make the transition to a Tier 2 financial institution in 2025.
The EBRD has been heavily invested in Kazakhstan since 2005, pouring over €11 billion across 335 projects. The majority of this investment has been aimed at bolstering private entrepreneurship.
Want to know more about the EBRD's Kazakhstan Women in Business Programme II? Here's a sneak peek into the program, its objectives, and its impact:
- Objectives:
- Access to Finance: EBRD provides loans to women-led MSMEs through local financial institutions like KMF.
- Capacity Building: Offers technical advice, knowledge-sharing initiatives, and skill development programs.
- Policy Support: The program is backed by the Kazakh government and aligns with the EBRD’s broader gender-inclusive strategies.
- Implementation:
- KMF Partnership: KMF will distribute funds and expand its services ahead of its transition to a Tier 2 bank in 2025.
- Programme Scope: Targets micro, small, and medium enterprises, which constitute a significant portion of Kazakhstan’s private sector.
- Impact:
- Historical Context: The EBRD has invested over €11 billion in Kazakhstan since 2005, with gender equality as a recent focus area.
- Alignment with SCF Goals: The program contributes to the EBRD's Strategic and Capital Framework 2021–25, emphasizing gender mainstreaming and private-sector growth.
For more detailed information, check out the EBRD's official website, monitor KMF's updates, and follow news outlets like The Astana Times or Trend News Agency. Direct inquiries can be made to the EBRD’s Kazakhstan office or the KMF client services team.
- The European Bank for Reconstruction and Development (EBRD) is providing $25 million in financing to KMF, a Kazakh microloan provider, as part of the EBRD's Kazakhstan Women in Business Programme II.
- KMF, which has been a partner of the EBRD since 2005, aims to transition to a Tier 2 financial institution by 2025, and this funding will help it expand its services to women-led micro, small, and medium-sized enterprises (MSMEs).
- The EBRD's Kazakhstan Women in Business Programme II also offers technical advice, knowledge-sharing initiatives, and skill development programs to bridge the finance gap for women entrepreneurs in Kazakhstan.
- The program aligns with the EBRD’s broader gender-inclusive strategies and is backed by the Kazakh government, with a goal to promote women's entrepreneurship and stimulate business activity in Kazakhstan.
- By 2025, it is expected that the EBRD's investment in Kazakhstan will exceed €11 billion, with a significant emphasis on bolstering private entrepreneurship and enhancing women's health and wellness, particularly in the science, health-and-wellness, and business sectors.
