Small and Medium Enterprises Investment Program - Tranche 2 (ADB-44060-024)

Countries
  • Kazakhstan
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Canceled
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
Dec 13, 2013
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
Government of Kazakhstan, DAMU Entrepreneurship Development Fund
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)
$ 122.00 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)
$ 122.00 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)
$ 122.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Jan 10, 2018

Disclosed by Bank Sep 23, 2016


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Project Description
According to ADB, ADB is helping Kazakhstan provide affordable financing to small and medium-sized enterprises (SMEs). The second tranche of the multitranche financing facility will help state-owned Damu Entrepreneurship Development Fund provide medium-term financing to SMEs through local banks. It will also help promote greater access to credit for women entrepreneurs. This is the second Tranche of a Multitranche financing facility (of $500 million) to support SME lending. Tranche 2 is funded through a loan to Damu ($150 million equivalent in local currency) from ADB's ordinary capital resources, guaranteed by the Republic of Kazakhstan. Tranche 2 is supporting Damu implement the government's Action Plan to increase access to medium term finance for SMEs. ADB's loan is used for lending to qualified SMEs through selected participating financial institutions (2 commercial banks).
Investment Description
  • Asian Development Bank (ADB)
Contact Information
Project Officer: Martinez, Inmaculada Central and West Asia Department, ADB No contact information provided at the time of disclosure. Executing Agency: DAMU Entrepreneurship Development Fund Email Address: BMUKUSHEV@FUND.KZ Office Address: Gogol St., 111, Almaty, Kazakhstan ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main