As stated by the EBRD, the project consists of the provision of a senior unsecured loan of US$ 25 million in KZT equivalent to JSC Home Credit Bank, Kazakhstan (HCBK) under the Kazakhstan Green Economy Financing Facility II (KazGEFF II).
The proceeds of the loan will be used to on-lend to eligible retail (and potentially SME) sub-borrowers, selected according to the technical, financial and environmental eligibility criteria in a gender responsive way.
The project will facilitate the expansion of green investments, providing positive demonstration effects of such investments, through gender-responsive on-lending to the private sector in Kazakhstan. It will also help develop the internal capacity of HCBK to finance Green Economy Transition (GET) projects and identify and fund advanced systems. Furthermore, it will support the accelerated market penetration of green technologies, which go beyond prevailing standards. The EBRD will engage with HCBK and assist the bank with implementation of the ESG disclosure regulations and guidelines to be launched by the local regulator.
As stated by the EBRD, HCBK is the 13th largest bank in Kazakhstan (out of 21) with total assets of US$ 1.2 billion, equity of US$ 307 million and market shares of 1.3 per cent in total assets, 1.9 per cent in customer loans and 0.9 per cent in deposits as of 1Q2023. The bank has one million active clients and operates 17 branches and 49 offices across the country. HCBK is currently rated BB-/stable by Fitch.
Financial Intermediary - JSC Home Credit Bank:
ACCESS TO INFORMATION
You can request information by emailing: firstname.lastname@example.org or by using this electronic form: https://www.ebrd.com/eform/information-request
ACCOUNTABILITY MECHANISM OF EBRD
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: email@example.com or you can submit a complaint online using an online form at: 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