BAKU, Azerbaijan, July 28. Kazakhstan's KMF Bank has secured a $50 million senior loan from Proparco, a French development financial institution, to expand financing for small businesses across the country, Proparco reported.
According to the company, the funding will increase access to long-term financing for businesses throughout Kazakhstan, with a particular focus on entrepreneurs operating in regional and remote communities.
Proparco noted that small businesses remain a key driver of Kazakhstan's economy but continue to face difficulties in accessing long-term funding, especially outside the country's largest cities. The new financing is expected to support entrepreneurship, stimulate job creation and contribute to more balanced regional economic development by increasing the availability of long-term capital for productive investments.
More than 90% of KMF Bank's loan portfolio is dedicated to business financing. With nearly 30 years of experience and a nationwide presence, the bank has established itself as one of Kazakhstan's leading lenders to micro and small businesses.
The $50 million facility will enable KMF Bank to further expand its lending activities, helping entrepreneurs invest, grow their businesses and strengthen local economies across Kazakhstan.
"Supporting micro and small businesses remains at the core of our strategy. Our agreement with Proparco will expand financing opportunities for entrepreneurs and strengthen our cooperation with one of the world's leading international development finance institutions. It represents another important step toward building a sustainable financing ecosystem for small businesses in Kazakhstan," said Shalkar Zhussupov, CEO of KMF Bank.
Steven Gardon, Regional Director for Eurasia at Proparco, said the new financing further strengthens the long-standing partnership between the two institutions.
"By providing long-term funding to one of Kazakhstan's leading financial institutions, Proparco is supporting the continued development of small businesses, promoting financial inclusion and fostering sustainable private sector growth across Kazakhstan," he said.
According to the bank, the transaction marks the fourth financing operation between Proparco and KMF Bank, reflecting their long-term cooperation aimed at expanding access to finance for entrepreneurs and supporting private sector development in Kazakhstan. The deal also reinforces Proparco's commitment to Central Asia through financing local financial institutions that promote inclusive and sustainable economic growth.
Proparco is a subsidiary of the AFD Group (Agence Française de Développement). It provides funding and support to businesses and financial institutions in Africa, Asia, Latin America, Eurasia and the Middle-East.
