| Project Detail |
Project Description
A 3-year senior loan to ForteBank JSC ("Forte") in the amount of up to USD 10 million in KZT equivalent. The financing will be used for on-lending to eligible women-led private micro, small and medium-sized enterprises (MSMEs) in Kazakhstan.
Project Objectives
The aim of the loan is to promote womens entrepreneurship and access to finance, and more broadly womens participation in business, through the development of a strong WiB SME sector in Kazakhstan, by facilitating access to finance and advice for women-led SMEs. The loan will be complemented by the development of sustainable credit mechanisms targeted at women-led SMEs through technical assistance to Forte; and technical support for women-led SMEs in accessing knowhow, non-financial business development services and networking opportunities.
Transition Impact
The project has important transition impact potential, specifically in relation to addressing the gender related inclusion gap for access to finance in Kazakhstan. It will help Forte to develop, test, and roll out tailored sustainable credit mechanisms targeted at women-led MSMEs through technical assistance and strengthen their capacities to effectively reach out to the target segment via marketing and outreach activities. The project will also improve access to term funding in local currency for women-led MSMEs in the country. A special focus will be given to distribution of funds in the regions outside of Astana and Almaty, the administrative and financial capitals of Kazakhstan. |
