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ADB approved two private sector loans totaling $125 million. In line with Government priorities, ADB’s assistance focuses on private sector activity.
ADB approved two 5-year loans to two commercial banks—$75 million to Bank TuranAlem JSC and $50 million to JSC Alliance Bank—representing ADB’s first nonsovereign financing in Kazakhstan. They will help the two banks expand their small and medium-sized enterprise portfolio by providing debt funding and bridging an unwarranted maturity gap, allowing the banks to match their assets and liabilities more closely.
A partial credit guarantee was provided to JSC Alliance Bank for its first diversified payment rights securitization program with a total issue amount of $200 million. This will help develop Kazakhstan’s securitization market. The project is the first diversified payment rights securitization of a medium-sized private sector bank in Kazakhstan. It is expected to help similar banks access this type of funding.
Ongoing public sector technical assistance and investments support the Government as it strives to achieve environmentally sustainable development, wider access to drinking water, improved water supply and sanitation services, long-term benefits from higher farm income, and improved irrigation networks and water service institutions.
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