KMF-FY16

completed

The proposed project consists of a senior syndicated loan of up to US$25 million denominated in Kazakh Tenge (KZT) to Microfinance Organization “KMF” LLC, formerly Microcredit Organization KazMicroFinance LLC (“KMF” or the “Company”), IFC’s existing portfolio client and the leading microfinance institution in Kazakhstan, as follows: (i) an A loan of up to US$5 million denominated in KZT for IFC’s own account; and (ii) a B loan/Parallel loan of up to US$20 million or its equivalent in KZT for the account of participants. The funding will support KMF’s loan portfolio growth through increasing new product offerings to its target micro and small businesses clientele, including women entrepreneurs in rural and urban areas, reduce its foreign currency exposure and improve its risk profile. As of September 30, 2015, KMF’s gross loan portfolio was US$122 million issued to 144,730 active micro-borrowers through its network of 18 branches and 80 outlets and sub-offices allowing deep outreach in rural areas.