IFC Partners with Arnur Credit to Expand Access to Finance for Women Entrepreneurs and Smaller Businesses in Kazakhstan
Kazakhstan, July 14 -- To expand access to finance for micro and small enterprises, including women entrepreneurs across Kazakhstan, IFC and Arnur Credit signed a local currency loan agreement of $10 million-equivalent. The initiative is part of IFC's broader efforts to promote inclusive economic growth, empower small entrepreneurs, and create jobs.With 40 percent of the funding earmarked for women-run businesses, the financing includes a $5 million-equivalent local currency loan from IFC's own account and an additional $5 million-equivalent local currency loan mobilized by IFC from micro and small loans-focused impact investor, "Invest in Visions GmbH".Kazakhstan faces an estimated $16.8 billion finance gap for micro, small, medium enterpr...
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