International financial institution, EBRD, to grant $25 million to foster women-owned businesses in Kazakhstan.
Hold up! The EBRD is dropping a whopping $25 mil to uplift women in biz in Kazakhstan
အားប Yo, check it out! The EBRD is dropping a cool $25 million to empower women entrepreneurs in Kazakhstan!
Here's the skinny: the European Bank for Reconstruction and Development (EBRD) is teaming up with microlender KMF to provide some serious financial firepower to women-led micro, small, and medium-sized enterprises (MSMEs) in Kazakhstan. The aim? To boost entrepreneurship among women and create some business buzz.
Details: the financing package includes access to cash, knowledge sharing, and technical guidance. It's all part of the EBRD's Kazakhstan Women in Business Programme II, which has government backing and some hefty backing from the Women Entrepreneurs Finance Initiative.
KMF has been an EBRD buddy since 2005 and has over 27 years of experience in MSME financing. They currently handle nearly a quarter of all microloans in Kazakhstan. Look for KMF to get a banking license and level up to Tier 2 status in 2025.
Don't forget about the EBRD's overall investment in Kazakhstan. They've already put over 11 billion euros (that's $12.4 billion USD) into the country, mostly focusing on private entrepreneurship.
By the way, if you're keeping score, this ain't the EBRD's first rodeo. They've also loaned out an additional $10 million to Bank CenterCredit for similar objectives. But KMF is still the main player when it comes to supporting women-led MSMEs.
- The European Bank for Reconstruction and Development (EBRD) has partnered with microlender KMF, aiming to provide financing, knowledge, and technical support to women-led micro, small, and medium-sized enterprises (MSMEs) in Kazakhstan, as part of the EBRD's Kazakhstan Women in Business Programme II.
- KMF, with over 27 years of experience in MSME financing, has been instrumental in handling nearly a quarter of all microloans in Kazakhstan and is anticipated to become a Tier 2 bank by 2025.
- The EBRD's commitment to Kazakhstan extends beyond the Women in Business Programme II, with the bank already having invested over 11 billion euros ($12.4 billion USD) in the country, primarily in private entrepreneurship.
- Science and health-and-wellness sectors might also benefit from this initiative, as future business growth in these areas could potentially attract financing under this program.
- The EBRD's financing and support are not confined to Kazakhstan, with the bank having previously provided an additional $10 million to Bank CenterCredit for similar objectives, demonstrating a continued effort in supporting women entrepreneurs across its region.
