KMF-HALP (IFC-40476)

Countries
  • Kazakhstan
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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.
Voting Date
Jan 26, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
MICROFINANCE ORGANIZATION KMF LLC
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)
$ 85.00 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)
$ 85.00 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 @ IFC website

Updated in EWS Aug 5, 2018

Disclosed by Bank Dec 14, 2017


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Project Description

This project provides financing to Limited Liability Company Microfinance Organization to support local currency financing of micro and small enterprises, including women enterprises and clients in remote areas of Kazakhstan.

Investment Description
  • International Finance Corporation (IFC)
Financial Intermediary
Private Actors
Private Actors Description

KMF is an ultimate leader in the Kazakh microfinance sector, having demonstrated a steady growth in client base, loan portfolio and regional network especially in rural areas since its inception. As of Sep 30, 2017, KMF had a gross loan portfolio of over US$245 million with over 211,000 active micro-borrowers, representing c. 54% market share by loans outstanding. With 1700 staff, KMF operates a developed distribution network of  116  branches and outlets, allowing deep outreach in rural areas. 

Contact Information

Limited Liability Company Microfinance Organization “KMF”
Ms. Elena Skufalyaridi
Treasury Manager
+77273317474
elena.skufa@kmf.kz
50, Furmanov street, Almaty 050004, Republic of Kazakhstan
www.kmf.kz

ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/