This is the second Tranche of a Multitranche financing facility (of up to $500 million) to support SME lending. For Tranche 2, Damu has requested a loan of up to $150 million equivalent in local currency (tenge) from ADB's ordinary capital resources. The loan will be guaranteed by RoK. Tranche 2 will help Damu continue with the implementation of the government's Action Plan to increase access to medium term finance for SMEs. The medium term tenge fixed interest rate wholesale funding will increase competition and scope for SME lending.
Tranche 2 will have two outpus: (i) medium term financing to SMEs, and (ii) improved financial sector outreach with a focus on women entrepreneurs. The funds will be disbursed by qualified financial intermediaries, and used for market-based investment and working capital loans, leases and other financing products to SMEs.
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