ForteBank receives KZT9.3 bn second tranche of loan from European Bank for Reconstruction and Development for funding projects of micro, small and medium-sized businesses

/KASE, June 13, 2017/ – ForteBank (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of June 12, 2017: quote European Bank for Reconstruction and Development (EBRD) dispensed KZT9.3 bn to ForteBank, as part of the second tranche under loan agreements dated November 15, 2017, for funding of projects of micro, small and medium-sized businesses, as well as in support of female entrepreneurship under EBRD program "Women in Business". Interest rate for entrepreneurs – from 14% APR. Maximum loan amount – up to KZT900 mln. Loan's purpose – replenishment of working capital, investments. The first tranche in the amount of KZT9.9 bn was received by the Bank on December 15, 2016, and was utilized in full. Over 60% of funds were utilized in Kazakhstan's regions, outside Astana and Almaty. More than 250 new jobs were created as a result of project implementation. unquote [2017-06-13]