RF - BM Kazakhstan (EBRD-52047)

  • Kazakhstan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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."
Voting Date
May 12, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.00 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)
$ 25.00 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 @ EBRD website

Updated in EWS Dec 9, 2020

Disclosed by Bank Jun 25, 2020

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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.

EBRD is going to provide a senior loan of up to US$ 25.0 million (EUR 23 million) in favour of Borusan Makina Kazakhstan LLP (BMK), a limited liability company incorporated in Kazakhstan, to finance its working capital needs.

The proposed transaction will provide short-term liquidity to BMK for working capital financing and help maintain its financial stability. The project willl preserve and help achieve transition gains set forth under the project and ensure the availability of short-term working capital financing to BMK, supporting them in overcoming the implications of the COVID-19 pandemic.


USD 25,000,000.00

A senior loan of up to US$ 25.0 million (EUR23 million) in favour of Borusan Makina Kazakhstan LLP.


USD 25,000,000.00


COVID-19 crisis response: The impact of the COVID-19 crisis is being seen in liquidity stress for corporate clients as it imposed constraints on commercial banks' lending and renewal of financing facilities. The Bank provides a liquidity facility for short-term liquidity needs of the Borrower, which is not readily available to raise in the capital markets due to the COVID-19 outbreak.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Borusan Makina Kazakhstan LLP ("BMK") is involved in the distribution, sales and service of Caterpillar heavy machinery equipment (excavators, loaders, asphalt pavers, off-highway trucks, and etc.) in Kazakhstan. BMK is a 100 per cent owned subsidiary of Borusan Makina ve Guc Sistemleri Sanayi ve Ticaret A.S. (the "Sponsor" or "BMGS"), which is engaged in the distribution and sales of Caterpillar heavy machinery equipment, power systems, spare parts and provision of related services for these products.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Borusan Makina ve Guc Sistemleri Sanayi ve Ticaret A.S. Parent Company Industry and Trade owns BORUSAN MAKINA KAZAKHSTAN LLP Client Industry and Trade

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 Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.


Berna Demir Yegenoglubedemir@borusan.com+902123935563+902122938882www.bmgs.com.trGebze Organize Sanayi Bolgesi 1500. Sokak, No: 1501

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How it works