This week IFAD launched  the Platform for Remittances, Investment and Migrants’ Entrepreneurship (PRIME) Central Asia Initiative in Kazakhstan, the Kyrgyz Republic, Tajikistan, and Uzbekistan.

This partnership marks a significant milestone in the digital financial landscape for Mali, connecting over 12 Million Malians to the vast diaspora residing across the globe.

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.

Following this acquisition, PAMF will operate with SAMA Money Group’s objective of improving the group’s contribution to financial inclusion for the unbanked population by providing accessible digital microfinance services to everyone.

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.”

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.

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.