International Financial Organization Commits $25 Million to Empower Women Entrepreneurs in Kazakhstan
Hitting the Gas Pedal on Women's Entrepreneurship:
Hey there! Let's talk about the European Bank for Reconstruction and Development (EBRD) stepping up its game in Kazakhstan. They're dishing out up to $25 million to boost women-led small and medium-sized enterprises (MSMEs) with a bit of help from KMF.
Want to know what this is all about? It's called the EBRD's Kazakhstan Women in Business Programme II (KazWiB II), and it's here to fire up women's entrepreneurship! This bad boy aims to help women-led businesses get their hands on some cash, learn a thing or two, and get the technical support they need to thrive in the land of the setting sun.
The KazWiB II is gangster-backed by the Kazakh government and provided through a term loan to leading microlender KMF, who've been in the game since 2005. This peeps got over 27 years of experience in financing local MSMEs and currently dishes out nearly a quarter of all microloans in Kazakhstan. They're aiming to get a banking license and transform into a Tier 2 financial institution in 2025.
Picture this: the EBRD has poured more than 11 billion euros (around $12.4 billion) into 335 projects in Kazakhstan, mostly to support private entrepreneurship. So, they're not messing around, and they're showing that they're all about women's business!
Now, let's spill some more deets on what's really going down. The KazWiB II is here to make women-led businesses more resilient, expand their access to resources, and diversify financial products. They're doing this by providing loans, delivering business development tools, networking opportunities, and offering technical assistance, all to help these boss ladies conquer the world!
The program also aligns with the broader EBRD objectives, helping them to integrate gender considerations into their projects, contributing to both economic transition goals like financial inclusion and sustainable practices. But that's not all! The KazWiB II is partnering with MFO KMF, the largest private microfinance institution in Kazakhstan, to funnel funds to women entrepreneurs, putting more green in the palms of these hustling women!
So, there you have it! The EBRD's on a mission to help women-led businesses, and they're pulling out all the stops to make it happen. Don't be surprised if you start seeing some badass women-led MSMEs crushing it in Kazakhstan soon!
- The European Bank for Reconstruction and Development (EBRD) is providing $25 million in financing to boost women-led small and medium-sized enterprises (MSMEs) in Kazakhstan, with a portion coming from KMF, a leading microlender active since 2005.
- By 2025, MFO KMF aims to transform into a Tier 2 financial institution, continuing its efforts to finance local MSMEs that it has been doing since 2005.
- In addition to financing, the EBRD's Kazakhstan Women in Business Programme II (KazWiB II) offers business development tools, networking opportunities, and technical assistance to help women-led businesses in Kazakhstan.
- This initiative aligns with the EBRD's broader objectives, helping to integrate gender considerations into their projects and contribute to economic transition goals such as financial inclusion and sustainable practices.
- The KazWiB II also aims to make women-led businesses more resilient and diversify financial products available to them, ultimately helping these businesses thrive in the health-and-wellness, science, and finance sectors.
