KMF-HALP FY19

completed

 Financing to Limited Liability Company Microfinance Organization “KMF” (“KMF” or the “Company”) to support local currency financing of micro and small enterprises (MSEs), including women enterprises and clients in remote areas of Kazakhstan, structured as (i) an A loan exposure for IFC’s own account not exceeding S$10 million equivalent in KZT and (ii) up to US$60 million Hedged A Loan Participation (“HALP”), for the account of participants (the “Project”).KMF is the ultimate leader in the Kazakhstan microfinance sector and has demonstrated a steady growth in client base, loan portfolio and regional network since its inception in 1996. As of end-2018, theCompany had a gross loan portfolio of US$313 million and 243 thousand active clients, representing up to 54% microfinance industry market share by outstanding loans. The Company operates a developed distribution network with 117 offices including 14 regional branches, two regional back offices and a Head Quarter allowing deep outreach in rural areas.