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ADB and KMF Sign $15M Loan to Expand Access to Credit for MSMEs in Kazakhstan

Source: Devdiscourse

The Asian Development Bank (ADB) and leading microfinance organization "KMF" Limited Liability Company (KMF) signed a loan of up to $15 million or its tenge equivalent to expand access to credit for micro, small, and medium-sized enterprises (MSMEs) in Kazakhstan.

"MSMEs are a driving force for Kazakhstan's economic growth and diversification but many of these businesses, especially those owned or led by women, find it hard to access long-term finance," said ADB Vice-President for Private Sector Operations and Public–Private Partnerships Ashok Lavasa. "This loan is ADB's first intervention in Kazakhstan's financial sector in several years. It will support KMF's efforts to improve financial inclusion and contribute to Kazakhstan's recovery from the COVID-19 pandemic."