The financing will allow Shinhan Finance to continue providing much-needed longer-term loans and enhance the resilience of smaller enterprises, which are critical for economic growth and job creation.

With the issuance of this bond, Agricover reinforces its long-term commitment to sustainable development in Romania, catering to the financing needs of smallholder farmers.

The loan is intended to boost its services to micro-, small, and medium-sized enterprises – especially in rural areas – to “improve financial inclusion and contribute to Kazakhstan’s recovery from the COVID-19 pandemic.”

The initiative, known as the Debt Resolution Project, is expected to create a safety net for businesses and investors, improving access to credit, especially for small and medium enterprises.

Micro and small enterprises (MSEs) in Kazakhstan stand to benefit from a new investment which aims to help businesses recover from the economic shock of the COVID-19 pandemic, resume operations, and adapt to the post-crisis environment.

The loan is extended within the Western Balkans SME Competitiveness Support Program with the support by the EU, which is providing incentive payments and technical assistance.

The EUR 27.5 million investment will generate jobs, boost energy-efficiency measures, and help reduce carbon emissions.​