IFC makes largest ever microfinance investment in Kazakhstan

The International Finance Corporation is providing a senior syndicated loan of $82 million equivalent in Kazakh tenge to microfinance organisation KMF to boost lending to micro and small enterprises.

The investment comprises a senior loan of $10 million for IFC's own account and a Hedged A-Loan Participation of up to $72 million for the account of leading international investors, and is the largest ever deal in the microfinance sector of Kazakhstan. The group of committed investors consists of Invest in Visions GmbH; Incofin Investment Management; Triple Jump V.A.; MicroVest Short Duration Fund; Bank im Bistum Essen eG; Oikocredit, Ecumenical Development Cooperative Society U.A; and Symbiotics SA.