The Foundation funds a new partner in Kazakhstan
The Foundation granted a first loan to the Kazakh microfinance institution KMF for a total amount in Kazakhstani tenge equivalent to € 3.3 million, over a three-year period.
KMF, created in 1996, focuses on rural and urban microentrepreneurs through an extensive network of branches and sub-offices. The institution both individual and group solidarity loans, with a focus on women entrepreneurs and inhabitants of remote rural areas. KMF has a dedicated social performance management unit, which collects, monitors and reports on a range of social indicators including client satisfaction and client retention.
With this investment, the Foundation now has two active partners in Kazakhstan.