ADB Bolsters Kazakhstan SME Sector

The Asian Development Bank is making USD500 million available to small and medium-sized enterprises in Kazakhstan through a new multitranche facility approved Oct. 4.

The financing facility will support Kazakhstan’s Small and Medium Enterprise Investment Program, which is designed to help the Central Asian country provide new jobs and strengthen its economy by developing the SME sector.

The USD500 million financing will be coursed through the state-owned Damu Entrepreneurship Development Fund, which will re-lend the money to participating local banks. SMEs can then access cost-effective financing through these banks.

About the author

  • Ivy mungcal 400x400

    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.