According to ADB, ADB is helping Kazakhstan provide affordable financing to small and medium-sized enterprises (SMEs). The second tranche of the multitranche financing facility will help state-owned Damu Entrepreneurship Development Fund provide medium-term financing to SMEs through local banks. It will also help promote greater access to credit for women entrepreneurs.
This is the second Tranche of a Multitranche financing facility (of $500 million) to support SME lending. Tranche 2 is funded through a loan to Damu ($150 million equivalent in local currency) from ADB's ordinary capital resources, guaranteed by the Republic of Kazakhstan. Tranche 2 is supporting Damu implement the government's Action Plan to increase access to medium term finance for SMEs. ADB's loan is used for lending to qualified SMEs through selected participating financial institutions (2 commercial banks).
Project Officer: Martinez, Inmaculada
Central and West Asia Department, ADB
No contact information provided at the time of disclosure.
Executing Agency: DAMU Entrepreneurship Development Fund
Email Address: BMUKUSHEV@FUND.KZ
Office Address: Gogol St., 111, Almaty, Kazakhstan
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The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main