IFC Invests $50M in KazMicroFinance to Support Micro and Small Businesses in Kazakhstan

KMF, an IFC partner for several years, operates 18 branches and 117 sales points across Kazakhstan. Over 55 percent of its borrowers are women, and 67 percent reside in rural areas.

The International Finance Corporation (IFC) is strengthening its commitment to micro and small enterprises (MSEs) in Kazakhstan by investing up to $50 million in KazMicroFinance (KMF), one of the country’s leading microfinance institutions. This investment is aimed at increasing access to finance for women entrepreneurs and rural agribusinesses, key sectors in Kazakhstan's economy.

KMF, an IFC partner for several years, operates 18 branches and 117 sales points across Kazakhstan. Over 55 percent of its borrowers are women, and 67 percent reside in rural areas. IFC’s investment will provide crucial financial resources to MSEs, with a special focus on empowering female entrepreneurs and supporting rural agricultural businesses.

"KMF is dedicated to helping micro and small businesses thrive across Kazakhstan. This investment will strengthen our ability to face current challenges as we transition to becoming a universal bank," said Shalkar Zhussupov, Chairman of KMF's Management Board. "We remain committed to advancing financial inclusion and expanding services for entrepreneurs across the country."

Small and medium-sized enterprises (SMEs) play a pivotal role in Kazakhstan’s economy, contributing 36.5 percent of the nation’s GDP. However, access to finance remains a significant hurdle, particularly for women and rural communities.

"Increasing access to finance enables MSEs to grow, create jobs, and build resilient communities in Kazakhstan," said Alain Nounke, IFC’s Regional Industry Manager for Financial Institutions in Central Asia and Türkiye. "Supporting women-owned enterprises and agribusinesses fuels economic growth. Our investment in KMF highlights IFC’s commitment to promoting inclusive and sustainable growth in the country."

As KMF continues its transformation into a full-service bank, IFC will provide support for introducing new products such as cards, deposits, and transfers, alongside the launch of an e-banking platform. The institution will also implement global environmental, social, and governance (ESG) best practices.

To date, IFC has provided KMF with $287 million in financial products and advisory services to strengthen corporate governance and manage risks effectively.