Microfinance Organization "KMF" announces signing of $15.0 mln loan agreement with Asian Development Bank

15.06.22 17:36
/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]