Kazakhstan small and women-led businesses are getting a financial boost from two organizations. The European Bank for Reconstruction and Development (EBRD) will extend a financial package of U.S. $11 million which comprises a U.S. $4.4 million loan for local micro, small and medium-sized enterprises (MSMEs). A U.S. $6.6 million loan under the local Women in Business programme will be implemented and is the second transaction between EBRD and KMF.

A long-standing partner of EBRD and the largest private microfinance organization in the Kazakhstan, KMF, will on-lend the EBRD funds to economic players whose growth potential is deemed vital for the sustainable development of Kazakhstan’s economy. To date, the EBRD reports an investment close to €7.2 billion (equivalent to more than U.S. $8 billion) in Kazakhstan’s economy.