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  • Bank CenterCredit to receive loan of up to $40M from EBRD
13 December, 2019 16:44

Bank CenterCredit to receive loan of up to $40M from EBRD

A loan agreement was signed on December 12 in Almaty. The general financing package includes a 3-year loan of up to $30M in tenge to finance micro, small and medium-sized businesses (SMEs), as well as 3-year loan of up to $10M in tenge for the development of women's entrepreneurship under the EBRD's Women in Business program, the Bank’s press service informs.

Bank CenterCredit to receive loan of up to $40M from EBRD | Strategy2050.kz

“The receipt of the next loan from the European Bank for Reconstruction and Development is a continuation of the fruitful cooperation between our financial institutions, which originates in 2003, and this loan was carried out without the participation of the Damu Fund, which is a reflection of our deep partnerships,” said Chairman of the Management Board of Bank CenterCredit Galim Khussainov.

Under the current loan, financing will be provided to SME entities, with a special focus on women’s entrepreneurship.

“Bank CenterCredit is our long-standing and reliable partner in Kazakhstan in the implementation of EBRD programs to support small and medium-sized businesses, women's entrepreneurship, as well as trade finance. The Bank was the first financial institution to support and join the EBRD's Women in Business program in 2015, which, in addition to financing, also provides advisory services and training,” said the Head of the EBRD for Kazakhstan, Agris Preimanis.
chronicle 2050

SMEs will make up at least 50% of the GDP

abour productivity will reach up to $126 000 and 3 to 6 y.o. kids will have 100% access to pre-school education in Kazakhstan.

Kazakhstan will fully satisfy its own market of POL in compliance with the new environmental standards

The share of non-primary exports in total exports will double and triple by 2040

Transition to Latin graphics will commence

95% of the population will speak Kazakh

15% of the area under cultivation will make use of water-saving technologies.

The issue of providing water for irrigation will be resolve

GDP per capita will stand at $60 000

The urban population will represent 70% of the total population in Kazakhstan