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Microfinance: a loan to KMF to support Kazakh entrepreneurs
Project
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Signature date
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Location
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Kazakhstan
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Financing tool
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Financing amount (Euro)
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28285875
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Financing details
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USD 30m loan
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Customer
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KMF
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Type of customer
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Microfinance
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Country of headquarters
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Kazakhstan
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Project number
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PKZ1007
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Environmental and social ranking
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C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
With financing allocated to KMF, the leading microfinance institution in Kazakhstan, Proparco is supporting Kazakh women entrepreneurs and the agriculture sector.
Client presentation
Founded by the American NGO ACDI/VOCA, KMF is the leading microfinance institution in Kazakhstan with a market share of 23%. It offers microcredits to rural people, mainly for women (55% of its clients) and the agriculture sector (39% of its portfolio). In the first half of 2022, the institution was serving over 245,000 borrowers, with a total loan portfolio of USD 461.6m. KMF operates via a network of 14 branches and 111 service points, covering 12 of the 14 regions in the country.
Project description
Proparco has allocated a USD 30m senior debt in local currency to the microfinance institution KMF to support the development of its loan portfolio, which is mainly for women entrepreneurs and agricultural enterprises.
Project impact
The main impacts of the project are:
- New or improved access to microcredit for some 15,950 beneficiaries
- Some 7,800 jobs created and maintained.
With women making up 83% of KMF’s management team and 55% of its clients women, 100% of the project qualifies under the 2X Challenge initiative for the criteria 2 “Leadership” and 4 “Consumption”.
The project will contribute to SDGs 1 (“No poverty”), 5 (“Gender equality”), 8 (“Decent work and economic growth”) and 10 (“Reduced inequalities”).