WBC-JSC Tengri Bank (DFC-2018-WBCJSCTENGRI)

Countries
  • Kazakhstan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Tengri Bank JSC (“Tengri”)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 14.62 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 14.62 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 15.45 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ DFC website

Updated in EWS Apr 2, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

Description

Under this project DFC  to is going to provide 14 625 million USD to Tengri Bank JSC, Kazakhstan. The Project will support the expansion of Tengri’s lending activities in Kazakhstan, addressing significant unmet demand for medium-long term capital among SMEs. At least 25% of the loan proceeds will be used in support of SMEs that are majority owned or managed by women.The Project Company is also expected to hire over 75 employees as a result of the Project.

Project objectives

The Project is expected to have a highly developmental impact by expanding the availability of financing for small and medium enterprises (“SMEs”) in Kazakhstan.The
Project expects to lead to substantial demonstration impacts through the implementation of products and services that are new or uncommon to Kazakhstan including:

  1. Electronic banking services platform for customers of Tengri Bank and other banks,
  2. Peer-to-peer,lending that enables individuals to utilize the Bank’s platform to assess potential borrowers’ creditworthiness
    and independently provide loans,
  3.  Online microlending service. 
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

The Office of Accountability offers two types of services:

  • Work with parties to help resolve a conflict, available to both project-affected parties and DFC clients
  • Conduct an investigation about how DFC applied its relevant policies to a project and is available to project-affected parties, as well as DFC’s Board and President 

https://www.dfc.gov/who-we-are/office-accountability

Contacts of JSC " Tengri Bank"

JSC “Tengri Bank” is a financially sustainable commercial bank being the component of the economic system of the Republic of Kazakhstan, dynamically developing for more than 20 years and enjoying confidence in many regions of the country.

https://en.tengribank.kz/

How it works

How it works