According to the IFC, the current Project intends to support LLC Microfinance Organization “KMF” in its transformation into a Bank by helping the Client to define a clear and achievable business strategy that includes a detailed business plan, financial projections, and technological model review. Abovementioned will assist the Company’s Supervisory Board/Shareholders to make an informed decision on transforming the Company into a bank.
IFC's role in the engagement with KMF include (1) project management; and (2) key documents review and assistance in project development and approval process.
1. Project management includes strategic support to ensure quality of the deliverables, timelines, consistency and smooth implementation of the project
2. Review and develop key documents and approval processes of the:
a. Bank strategy
b. Financial model and business plan
c. Technological model review. With IFC's support, the current project has a strong potential to transform the largest MFI in Kazakhstan to the fully-fledged bank, feasible for future investments. Furthermore, the project provides a ground to engage IFC AS and IS teams to provide implementation support and potential debt and equity investment.
As stated by the IFC, the project has been provisionally categorized as FI-3 according to the IFC Sustainability Policy.
The estimated total budget was pending at the time of disclosure.
As stated on the company's website, the microfinance organization "KMF" has been operating in the market since 1997. For 20 years of activity the Company has become one of the leaders in Central Asian microfinance sector.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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Client - LLC Microfinance Organization “KMF”:
Elena Skufalyaridy - Manager Treasury
Phone: +7 (701) 755 16 07 / +7 (727) 331 74 74
Address: Nazarbayev avenue 50, Almaty, Kazakhstan
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