As stated by the IFC, the proposed project consists of a straight senior loan of up to US$9 million equivalent in Kazakh tenge (KZT or LCY) to Microfinance Organization “Arnur Credit” Limited Liability Partnership, an existing IFC client and the 7th largest Kazakh microfinance institution, providing conventional microfinance services in Kazakhstan. The purpose of the proposed IFC investment is to support the Company's lending program to micro and small enterprises (MSEs), including rural-based MSEs (50%) and women-owned MSEs (50%), which have been negatively affected by the COVID-19 pandemic and Russia’s invasion of Ukraine.
The IFC categorized the project as FI-3.
Arnur - a leading player in the Kazakh microfinance market - has been IFC’s client since 2012 and is primarily active in the southern regions and focused on micro and agricultural clientele. Arnur’s current shareholders include Zajic family (55%), Incofin (17.5%), TripleJump (17.5%) and Paladigm Holdings (10%).
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Financial Intermediary - Microfinance Organization “Arnur Credit” Limited Liability Partnership:
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