Kazakhstan : KMF Expanding Access to Credit for Micro, Small, and Medium-Sized Enterprise Borrowers Project
Project Details
-
Project Officer
Bahl, Mohit
Private Sector Operations Department
Request for information -
Country/Economy
Kazakhstan -
Sector
- Finance
| Project Name | KMF Expanding Access to Credit for Micro, Small, and Medium-Sized Enterprise Borrowers Project | |||||
| Project Number | 53329-001 | |||||
| Borrower / Company | Microfinance organization "KMF" Limited Liability Company |
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| Country / Economy | Kazakhstan |
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| Location | Nation-wide | |||||
| Type or Modality of Assistance |
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| Operational Priorities | OP1: Addressing remaining poverty and reducing inequalities OP2: Accelerating progress in gender equality |
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| Sector / Subsector | Finance / Small and medium enterprise finance and leasing |
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| Gender | Effective gender mainstreaming | |||||
| Responsible ADB Department | Private Sector Operations Department | |||||
| Responsible ADB Division | Portfolio Management Division, PSOD | |||||
| Responsible ADB Officer | Bahl, Mohit | |||||
| Project Sponsor(s) | ||||||
| Description | ||||||
| Objectives and Scope | KMF will use the proceeds of ADB's facility to provide financing to MSMEs, including WMSMEs. | |||||
| Status of Development Objectives | In progress | |||||
| Status of Operation/Construction | Operation loan fully disbursed and repaying. | |||||
| Linkage to Country/Regional Strategy | The project will contribute to the following operational priorities of Strategy 2030 (i): addressing remaining poverty and reducing inequalities and (ii): accelerating progress in gender equality and women's empowerment. |
| Safeguard Categories | |
|---|---|
| Environment | FI |
| Involuntary Resettlement | FI-C |
| Indigenous Peoples | FI-C |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | The project is classified as FI-C for impacts on the environment. KMF will (i) apply ADB's prohibited investment activities list and enhance its existing ESMS satisfactory to ADB prior to the first disbursement. The enhanced ESMS will include (i) an environmental and social policy statement; and (ii) a stakeholder engagement procedure and grievance redress mechanism, which will contain requirements, as applicable, for information disclosure and consultation with affected people in accordance with ADB requirements. KMF will be required to (i) identify training needs and develop a training plan for assigned staff in ESMS implementation, and (ii) appoint a member of the management team who will be responsible for the overall environmental and social strategy and supervision of the ESMS covering all branches. The ESMS will set out requirements, as applicable, for compliance with national labor laws and measures to comply with the internationally recognized core labor standards, pursuant to ADB's Social Protection Strategy. |
| Involuntary Resettlement | ADB funds will be excluded from financing sub-loans that have been classified category A for any safeguard classification, category B for involuntary resettlement and indigenous people, and any sub-loans that are assessed as being noncompliant with the ESMS. KMF will include in its regular reporting information to ADB (i) the nature of subprojects and categorization, (ii) compliance with the safeguard and social requirements, and (iii) compliance with applicable national and international laws and standards. |
| Indigenous Peoples | The project is categorized as FI treated as C for Indigenous Peoples (IP) based on the potential impacts associated with the target sector. Sub loans involving business activities included in the prohibited list and classified as Category A or B in IP will be excluded from project support using ADB funding. KMF will be required to report annually on the use of ADB funds, including compliance with national laws and regulations on environmental and social safeguards. |
| Stakeholder Communication, Participation, and Consultation | Monitoring of the project will be carried out by ADB. KMF will provide ADB with financial reports at predetermined regular intervals and as requested, including (i) unaudited financial statements on a quarterly basis; (ii) audited financial statements on an annual basis; (iii) compliance certificates for financial covenants; (iv) annual reporting on selected development indicators agreed between ADB and KMF; and (v) annual environmental and social performance report. |
| Timetable for assistance design, processing and implementation | |
|---|---|
| Concept Clearance | 05 Nov 2019 |
| Credit Committee Meeting | - |
| Approval | 06 May 2022 |
| Last PDS Update | 18 Jul 2023 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
| Title | Document Type | Document Date |
|---|---|---|
| KMF Expanding Access to Credit for Micro, Small, and Medium-Sized Enterprise Borrowers Project: FAST Report | Faster Approach to Small Nonsovereign Transactions | May 2022 |
| KMF Expanding Access to Credit for Micro, Small, and Medium-Sized Enterprise Borrowers Project: Gender Action Plan | Gender Action Plans | May 2022 |
| KMF Expanding Access to Credit for Micro, Small and Medium-Sized Enterprise Borrowers Project: Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Feb 2022 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
ADB and KMF Sign $15 Million Loan to Improve Access to Finance for MSMEs in Kazakhstan
ADB and leading microfinance organization KMF signed a loan of up to $15 million or its tenge equivalent to expand access to credit for micro, small, and medium-sized enterprises (MSMEs) in Kazakhstan.