EBRD extends $41m credit to Kazakh Women in Business Programme

The EBRD is to extend $41m in credit to the Kazakh Women in Business Programme in a bid to increase the number of its female-run SMEsthe bank’s Country Director Janet Hickman said this week.  “In Kazakhstan, only 40% of the companies are owned by female entrepreneurs while women make up 51% of the population,” she explained. “The idea of the programme is to help kick-start entrepreneurship amongst women.”
The programme will extend a total of $41m in credit lines with a further  $8.2m in technical assistance being provided by the government to enable female owners of  ‘mom and pop’, corner-shop  enterprises to turn them  into bona fide SMEs. It will also provide them with access to networks where they can share information with other entrepreneurs in similar stages of development, and to mentoring programs.
By the end of the year the  EBRD will have invested a total of  US $1bn in Kazakhstan to support its effort to diversify its economy  away from minerals, mining and petrochemicals,” she said. “The areas we are investing in include agribusiness, SMEs, financial institutions, manufacturing and services sector, road construction, transport and infrastructure, ” its Director Janet Heckman said this week.