ADB and Arnur Credit Partner to Expand Finance Access for Women-Led and Green Businesses in Kazakhstan

Arnur Credit will use the funding to lend to eligible MSMEs, with at least 50% of the loan directed towards WMSMEs and 10% toward green loans.

The Asian Development Bank (ADB) has partnered with Arnur Credit Limited Liability Company to provide a senior unsecured loan of up to $5 million (in tenge equivalent) aimed at expanding access to finance for micro, small, and medium-sized enterprises (MSMEs) in Kazakhstan. The financing will prioritize support for women-led MSMEs (WMSMEs) and green loans.

Arnur Credit will use the funding to lend to eligible MSMEs, with at least 50% of the loan directed towards WMSMEs and 10% toward green loans. The green loans will help MSMEs invest in energy-efficient equipment and small-scale renewable energy projects.

“ADB’s partnership with Arnur Credit will enhance credit access for MSMEs in Kazakhstan, contributing to job creation, innovation, and sustainable growth,” said Suzanne Gaboury, ADB’s Director General for Private Sector Operations. “By supporting women entrepreneurs and promoting green business, we contribute to a more inclusive and resilient economy.”

MSMEs represent almost all of Kazakhstan’s 2 million businesses, employing nearly half of the labor force and contributing 36.5% of the country’s GDP. Nearly half of these businesses are owned or managed by women, but a finance gap of $42 billion remains a significant barrier for their growth.

Raushan Kurbanaliyeva, CEO of Arnur Credit, noted, “Partnering with ADB will enable us to reach more entrepreneurs, especially women, and champion green initiatives crucial for Kazakhstan's sustainable development.”

Arnur Credit, established in 2001, serves over 21,000 customers across southern Kazakhstan, with a focus on financial inclusion. Nearly half of its clients are women, particularly from rural areas, and the institution is a pioneer in offering green loans to MSMEs.