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

Countries
  • Kazakhstan
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
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Tengri Bank JSC (“Tengri”)
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 14,625.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 15,450.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Jul 20, 2020


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project 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
  • US International Development Finance Corporation (DFC)
Private Actors
Contact Information

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/