Altyn Ajydar IV

completed

Altyn Ajydar (AA) is a leading producer of corrugated packaging in the Kyrgyz Republic and a long-term IFC client with sales of $5.4 million in 2010. AA’s management has currently identified strong demand for packaging in Kazakhstan in line with the growth potential of the agribusiness, food processing, appliances and consumer goods sectors. AA now wishes to expand its production and sales to neighboring Kazakhstan closer to its main market and clients. Through this investment, IFC will be able to: (i) provide longer term financing that is currently unavailable in the local market in sufficient amounts; (ii) support the expansion of an existing viable client in an IDA country to larger markets in Kazakhstan in the wake of the global financial crisis and economic contraction in the Kyrgyz Republic; and (iii) continue working with AA on implementing improved safety, labor, health, and environmental practices as well as provide advice on corporate governance in both Kyrgyzstan and Kazakhstan.