Early Warning System

Countries

Kazakhstan

Geographic location where the impacts of the investment may be experienced.

Specific Location

Karaganda

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

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

Approved

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

Nov 18, 2025

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.

Borrower

Borusan Makina Kazakhstan LLP

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Industry and Trade

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, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 20.00 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)

$ 20.00 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 13, 2025

Disclosed by Bank Nov 20, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.

According to the Bank’s website, the project consists of an up to $20 million senior loan to Borusan Makina Kazakhstan LLP ("BMK"), the Bank's existing client. The Loan is provided in two tranches of $10 million of committed tranche ("Tranche 1") and $10 million uncommitted tranche ("Tranche 2").

Financing will be used to fund BMK's further enhancement of its Component Rebuild Centre ("CRC") in Karaganda, Kazakhstan, via capex and working capital investments. The project is considered green as all of the funding focuses on circular economy practices.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised B under the ESP 2024. Any potential adverse environmental and social impacts will be site-specific and manageable through implementation of the targeted mitigation measures. BMK is an existing client and the ESDD from the previous transaction concluded that the Company is largely compliant with the ESRs in key areas such as health and safety, air emissions, waste management, labour and supply chain management.

Given the capex nature of this project, in additional to the risks associated with land acquisition for the physical expansion of the existing facility, supply chain, contractors' management, labour and working conditions in the new operational workshops, occupational health and safety, traffic management and stakeholder engagement assessed as part of the previous transactions, the due diligence included also the assessment of issues specifically related to the company digitalisation component.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Senior loan of up to USD 20 million equivalent to BMK. The Loan will have 2 Tranches: committed and uncommitted Tranches of USD 10 million each. Each Tranche will fund (i) up to USD 5 million equivalent of capex provided in KZT for the Borrower's Component Rebuild Centre (CRC) enhancement and new equipment acquisition, including IT systems upgrade; and (ii) up to USD 5 million for working capital financing to be used on inventory dedicated to CRC. The loan will be guaranteed by the parent company BMGS.

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 is involved in the distribution, sales and service of Caterpillar heavy machinery equipment in Kazakhstan. BMK is a 100 per cent owned subsidiary of Borusan Makina ve Guc Sistemleri Sanayi ve Ticaret A.S. ("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 KAZAKHSTAN LLP	Client	-

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.

Gamze ERGUT
gergut@borusan.com
+902123935563
https://www.borusancat.com/tr
Gebze Organize Sanayi Bölgesi 1500. Sokak, No: 1501

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com 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: pcm@ebrd.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