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KMF Bank and Proparco strengthen their longstanding partnership to expand financing for small businesses in Kazakhstan

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KMF Bank, one of Kazakhstan's leading financial institutions dedicated to serving micro and small businesses, will further expand its financing for entrepreneurs through a USD 50 million senior loan provided by Proparco. The financing will increase access to long-term funding for businesses across Kazakhstan, with a particular focus on entrepreneurs operating in regional and remote communities.

Small businesses remain a key driver of Kazakhstan's economy but continue to face constraints in accessing long-term finance, particularly outside the country's largest cities. By increasing the availability of long-term financing for productive investments, the project will support entrepreneurship, foster job creation and contribute to more balanced regional economic development.

Expanding access to finance for entrepreneurs

More than 90% of KMF Bank's loan portfolio is dedicated to business financing. With a nationwide presence and nearly three decades of experience supporting entrepreneurs, the Bank has established itself as one of Kazakhstan's leading financial institutions serving small businesses across the country.

The USD 50 million facility will enable KMF Bank to further expand its lending activities, helping entrepreneurs invest, grow their businesses and strengthen local economies throughout Kazakhstan.

Supporting micro and small businesses remains at the core of our strategy. Our agreement with Proparco will expand financing opportunities for entrepreneurs and strengthen our cooperation with one of the world's leading international development finance institutions. It represents another important step toward building a sustainable financing ecosystem for small businesses in Kazakhstan.

Shalkar Zhussupov

  • CEO of KMF Bank

We are pleased to further strengthen our partnership with KMF Bank through this new financing. By providing long-term funding to one of Kazakhstan's leading financial institutions, Proparco is supporting the continued development of small businesses, promoting financial inclusion and fostering sustainable private sector growth across Kazakhstan.

Steven Gardon

  • Regional Director for Eurasia at Proparco

This transaction marks the fourth financing operation between Proparco and KMF Bank, reflecting a longstanding partnership built on a shared commitment to expanding access to finance for entrepreneurs and supporting private sector development in Kazakhstan. It further reinforces Proparco's engagement in Central Asia by supporting leading local financial institutions that contribute to inclusive and sustainable economic growth.