The European Bank for Reconstruction and Development (EBRD) is expanding its support for Kazakhstan's private sector with a financing package of up to $50 million for KMF Bank, aimed at assisting small businesses to grow and increasing access to funding for women entrepreneurs.

Under the agreement, KMF Bank will receive up to $40 million in senior loans to expand lending to private micro, small, and medium-sized enterprises (MSMEs), strengthening one of the country's key drivers of economic growth, The Caspian Post reports via Kazinform.

An additional $10 million will be provided through the EBRD's Kazakhstan Women in Business Programme II, supporting women-led and women-owned businesses with improved access to finance. Both loans will be available in either US dollars or Kazakhstani tenge.

Beyond financing, KMF Bank and its clients will gain access to advisory services, business training, mentoring, networking opportunities, and other expert support through the EBRD's Advice for Small Businesses programme.

The initiative is backed by the Government of Kazakhstan and reflects the country's ongoing efforts to expand entrepreneurship and improve access to capital for the private sector.

Kazakhstan remains the EBRD's largest and longest-standing investment destination in Central Asia. To date, the bank has invested nearly $12.8 billion across 354 projects in the country, supporting infrastructure, finance, renewable energy, and private-sector development.

The latest financing follows the recent launch of new infrastructure projects by Kazakhstan and the Islamic Development Bank.