Sector: SME Development
Financial instrument: Fixed Income Securities / Debt
SMEs in Kazakhstan are faced with obstacles to access bank credit, such as high interest rates, strict collateral requirements and a lack of credit history. The lack of access to finance among MSMEs is a key obstacle for economic diversification and private sector development. SIFEM’s long-term loan of USD 10 million in local currency will support KMF to provide financing to MSME clients that have largely been ignored by commercial banks, enabling them to operate and further grow their businesses. It will contribute to the long-term sustainability of the Kazakh economy through financial sector deepening and job creation.