KFP Bond (IFC-50040)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Kazakhstan
Geographic location where the impacts of the investment may be experienced.
Specific Location
Kostanay
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
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Aug 31, 2026
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
KazFoodProducts LLP
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • 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)
$ 40.00 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.
Loan Amount (USD)
$ 40.00 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)
$ 63.00 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 @ IFC website

Updated in EWS Jul 14, 2026

Disclosed by Bank Jun 22, 2026

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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.

As stated on the project disclosure page, IFC is considering an investment of up to US$40 million or its KZT equivalent in a senior secured private placement bond (the IFC Investment) to be issued by Samal Finance LLC (Samal Finance), a subsidiary of KazFoodProduct LLC (KFP or the Group). 

The proposed investment will finance the expansion works of Bayan Sulu and working capital needs of Asia Agro Food.
The expansion consists of a confectionery production complex adjacent to the existing Bayan Sulu Plant in Kostanay. The complex will consist of production and administrative buildings, warehouses for bulk and finished product storage and auxiliary facilities such as 4MW capacity transformer substation, boiler room housing two steam boilers, compressor room and vehicle weigh station. An old bread factory has been rehabilitated where new production lines will be installed. The production capacity is planned to be 40,000 tons/year.

As part of the broader support framework, IFC will also engage with KFP on a financial management advisory program to strengthen its operational performance and support the adoption of improved financial management practices and technologies.

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

As stated on the project disclosure page, IFC’s proposed financing is a US$40 million investment in a privately placed bond to partially fund KFP’s US$63 million investment program (the “Project”), including: (i) capital expenditures during 2025–2027 to increase confectionery production capacity by 20%, reaching more than 100 Kt per year; and (ii) working capital needs for confectionary and agribusiness.

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.

As stated by the IFC, Samal Finance is a financing entity and a wholly owned subsidiary of KFP.

Founded in 1998, KFP is an existing IFC client in Kazakhstan and a leading Kazakhstan-based agrifood group operating across deep wheat processing, meat production and processing, and confectionery. The Group comprises 20+ subsidiaries and employs over 5,000 people nationwide. KFP sells its products domestically and exports to over 10 countries. KFP is controlled and majority owned by Mr. Yerlan Baimuratov (30%) and Balapanov family (53%) and Mr. Alikhan Talgatbek (5%).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - KazFoodProduct LLC Client Agriculture and Forestry

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.

Client - KazFoodProducts LLP:

Uzakova Adilya - First Deputy General Director, Financial Director
Phone: +7 701 724 2086
Email: uzakova.a@kfp.kz
Address: Dostyk avenue 132 non -residental premises 75, Almaty city
Website: https://kfp.kz/en

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works