IFC and KMF to Help Micro and Small Entrepreneurs in Kazakhstan Weather the Impact of COVID-19

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.

IFC will provide up to $25 million to the country's leading microfinance institution, 'Microfinance organization "KMF" LLC, to enable it to further support its 217,000 customers, mostly in rural and remote areas, via its 14 branches and 110 outlets. Denominated in Kazakhstani tenge, the financing package will support KMF's lending program to MSEs across sectors, particularly those operating in the underserved regions.