/KASE, June 15, 2022/ – Microfinance Organization "KMF" LLP (Almaty), whose
bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided
KASE with the following press release dated June 13, 2022:
quote
Asian Development Bank (ADB) and leading microfinance company KMF have
signed a loan agreement for up to $15 million or the equivalent in tenge to
expand access to credit for micro, small and medium enterprises (MSMEs) in
Kazakhstan.
"MSMEs are driving the economic growth and diversification in Kazakhstan, but
many of them, especially those owned or run by women, find it difficult to
access long-term financing," said ADB Vice-President for Private Sector
Operations and Public-Private Partnerships Ashok Lavasa. "This loan is the
first ADB project in the financial sector of Kazakhstan over the past few
years. This will support KMF's efforts to expand access to financial services
and contribute to Kazakhstan's economic recovery after the COVID-19 pandemic".
"This is our first joint project with ADB, which we see as a symbol of
confidence in the reliability and sustainability of our microfinance program
and 25 years of successful experience in the country. The funds will go to
finance entrepreneurs, especially in rural areas. This project will directly
support the development of microlending in Kazakhstan," said Shalkar Zhusupov,
Chairman of the Management Board of KMF.
unquote
The full version of the press release is available on –
https://kase.kz/files/emitters/MFKM/mfkm_reliz_130622.pdf
[2022-06-15]