21.08.2015, 13:59
Bank CenterCredit receives KZT5 bn tranche from European Bank for Reconstruction and Development
OREANDA-NEWS. Bank CenterCredit JSC (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has by an official letter informed KASE of the following:
"... On August 20, 2015 Bank CenterCredit JSC (BCC) received the second tranche in the amount of KZT5 bn from the European Bank for Reconstruction and Development (EBRD). This tranche was financed under the EBRD KZT10 bn loan for the period of 5 years, including a two-year grace period, for lending to micro-, small and medium-sized businesses (MSME). More than 60 percent of the loans will be designated to financing of projects outside of Astana and Almaty.
BCC and EBRD on December 23, 2014 concluded a loan agreement. The first tranche was received by BCC on January 20, 2015.
The loan was disbursed under a guaranty from Entrepreneurship development fund "Damu" and will be accompanied a by a program of technical support from EBRD for purpose of further strengthening of internal potential of BCC in the field of lending to MSMEs.
The loan to BCC is the first project under the new program of EBRD for support of MSMEs in Kazakhstan to the amount of USD200 mln (Program). The funds will be distributed in tenge through local banks, micro-finance organizations and leasing companies. Special attention will be paid to projects in rural areas, where the access to the long-term financing of SMB is limited. The program will be accompanied by technical support specially designed with account to individual needs of each financial institution participating in the Program".
"... On August 20, 2015 Bank CenterCredit JSC (BCC) received the second tranche in the amount of KZT5 bn from the European Bank for Reconstruction and Development (EBRD). This tranche was financed under the EBRD KZT10 bn loan for the period of 5 years, including a two-year grace period, for lending to micro-, small and medium-sized businesses (MSME). More than 60 percent of the loans will be designated to financing of projects outside of Astana and Almaty.
BCC and EBRD on December 23, 2014 concluded a loan agreement. The first tranche was received by BCC on January 20, 2015.
The loan was disbursed under a guaranty from Entrepreneurship development fund "Damu" and will be accompanied a by a program of technical support from EBRD for purpose of further strengthening of internal potential of BCC in the field of lending to MSMEs.
The loan to BCC is the first project under the new program of EBRD for support of MSMEs in Kazakhstan to the amount of USD200 mln (Program). The funds will be distributed in tenge through local banks, micro-finance organizations and leasing companies. Special attention will be paid to projects in rural areas, where the access to the long-term financing of SMB is limited. The program will be accompanied by technical support specially designed with account to individual needs of each financial institution participating in the Program".
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