business and economy
EBRD to lend $50 million to Bank CenterCredit
(SRI) - The European Bank for Reconstruction and Development (EBRD) will lend $50 million to Bank CenterCredit (BCC). The two banks plan to sign a loan agreement on Wednesday, December 2.
The unsecured loan, with maturity of five years, will be used to boost lending to micro, small and medium-sized enterprises (MSMEs) across Kazakhstan.
According to EBRD, the project will support the development and expansion of BCC’s MSMEs business at a time when access to financing for small businesses remains difficult. The project will be supported by introducing credit scoring methodology to upgrade the bank’s existing systems and policies for MSE lending, and thus, enabling BCC to reach an increased number of MSEs.
BCC is Kazakhstan’s fifth largest bank by assets, with eight percent of the banking system’s total assets and 14.4 percent of retail deposits.
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