Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Kazakhstan
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Bank for Reconstruction and Development (EBRD)
Status: Disbursing
Bank Risk Rating: FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-10-04
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: ForteBank JSC
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2017-08-10
Disclosure Date: 2016-09-01
FIF - Kazakhstan WiB - Forte Bank
EBRD-48404

Project Description
This project finances ForteBank JSC as a financial intermediary for lending to eligible women-led micro, small and medium sized enterprises (SMEs) in Kazakhstan. This loan will be complemented by the development of sustainable credit mechanisms targeted at women-led SMEs through technical assistance to ForteBank JSC. A special focus will be given to the distribution of funds in the regions outside Astana and Almaty, the administrative and financial capitals of Kazakhstan.
Investment Description
Forte is the 8th largest bank (out of 35) in the country with total assets of USD 3.0 billion, equity of USD 494 million and market shares of 4.5% in total assets, 3.3% in customer loans and 4.7% in deposits at 1Q2016. The bank offers a wide range of retail, corporate and SME product offering via its distribution network of 19 branches and 145 outlets in 39 cities and rural settlements of Kazakhstan.
Contact Information
Ms. Aliya Yeszhan ayeszhan@fortebank.com Tel: +7 (7172) 59 99 99 ext.: 10232 www.forte.kz ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD’s own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.