The European Union continues to deliver on recent policy announcements to boost the business climate in Kazakhstan. As an example, the European Investment Bank (EIB) agreed to provide a new $30 million in cross border financing to KMF LLC (KMF), a leading Kazakh financial institution, after having been approached by KMF’s advisor, Emerging Markets Global Advisory Limited (EMGA), the emerging market focused, niche investment bank.
Commenting on the transaction, Shalkar Zhussupov, Сhairman of the Board of KMF said, “EMGA has again successfully secured foreign financing from a leading financial institution allowing us to deliver on our stated mission; encourage welfare growth of micro, small and agribusiness representatives by providing access to quality microfinance services.”
EMGA’s Senior Advisor and Investment Banking co-head Paul Dixon said, “It was a pleasure to again communicate KMF’s vision about supporting business within Kazakhstan and successfully complete this funding solution with the EIB.”
EMGA’s Managing Director Jeremy Dobson added, “Key to this transaction has been KMF’s strong management and solid financial position; both were major factors that enabled Paul and EMGA’s Investment Banking team to complete this financing in tandem with the deep institutional framework and financial capacity that the EIB represent.”
Emerging Markets Global Advisory Limited (EMGA), based in London and New York, helps financial institutions and corporates seeking new debt or equity capital. EMGA’s multi-national team combines the decades of experience necessary to complete transactions within most emerging countries, including Kazakhstan which remains a key market. EMGA continues to expand its geographic reach, solidifying its place as a preeminent emerging market focused, niche investment bank.
KMF is a leader in microfinance market in Central Asian region. KMF supports micro, small and agribusiness and has also proved itself with its strong social performance. In 2017, KMF’s social rating report from an international rating agency Microfinanza Rating (MFR) was made public. In January 2019, KMF received “AA-” grade, given for excellent social performance management and client protection systems, as well as high likelihood of achieving the social mission
The European Investment Bank (EIB) is the lending arm of the European Union. They are the biggest multilateral financial institution in the world and one of the largest providers of climate finance. They help the economy, create jobs, promote equality and improve lives for EU citizens and for people in developing countries. As the largest multilateral borrower and lender by volume, the EIB provides finance and expertise for sound and sustainable investment projects which contribute to furthering EU policy objectives. More than 90% of EIB activity is focused on Europe but it also supports the EU’s external and development policies.