BAKU, Azerbaijan, July 1. The Turkic Investment Fund (TIF), in cooperation with the European Bank for Reconstruction and Development (EBRD), is expanding financing opportunities for micro, small, and medium-sized enterprises (MSMEs) in Kazakhstan.
This was announced in a press release published by the Turkic Investment Fund (TIF).
According to the report, TIF will provide a $10 million senior unsecured loan through KMF Bank, aimed at improving access to finance for MSMEs, with particular attention to women-led enterprises and businesses operating in rural areas.
"Loan proceeds will be on-lent to eligible sub-borrowers under pre-agreed criteria, with a focus on MSMEs, rural businesses, and agricultural borrowers. The TIF-funded transactions will support the Fund’s broader integration mandate by promoting private-sector development and strengthening trade and investment flows among the Turkic states", TIF said.
Meanwhile, for the Fund, the transaction reflects its strategy of partnering with established financial institutions in Kazakhstan to reach underserved businesses facing limited access to funding, while contributing to employment and inclusive economic growth.
The EBRD supported the preparation of the project and provided technical expertise during the structuring process, leveraging its long-standing cooperation with KMF Bank.
Established in 1997 as Kazakhstan’s first non-bank microfinance institution, KMF Bank completed its transition into a licensed commercial bank in 2025. The bank currently serves more than 275,000 active borrowers through its nationwide network, with women-led businesses accounting for around 55 percent of its client base, many of them located in rural and remote areas.
The Turkic Investment Fund (TIF) is the first dedicated international financial institution jointly established by the Turkic states to promote economic cooperation, strengthen intra-regional trade, and support sustainable development across the Turkic world. While the concept of deeper economic integration among Turkic countries dates back to 2011, the Agreement Establishing TIF was signed during the Extraordinary Summit of the Organization of Turkic States (OTS) in Ankara on March 16, 2023, and officially entered into force on February 24, 2024.
