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10 years of cooperation between “MFO “Arnur Credit” LLP and EBRD

Since 2013, “MFO “Arnur Credit” LLP (“Arnur Credit”) has been one of the partners of the European Bank for Reconstruction and Development (EBRD) in Kazakhstan.

EBRD also launched the Women in Business program in 2015, which has empowered women entrepreneurs across the country. “Arnur Credit” joined the program in 2018. “Arnur Credit” is successfully implementing a green finance program within the framework of Women in Business, which started from the beginning of 2022.

In total, since 2013, EBRD program has disbursed $13,000,000, of which $7,000,000 under the EBRD SME program, $6,000,000 EBRD Women in Business, and $400,000 EBRD green financing.

In general, from the moment of cooperation (since 2013) to the present day, 4,176 microcredits in the amount of 6,828,822,234 tenge have been financed with EBRD, of which:

- SME - 2,578 microcredits in the amount of 4,165,177,483 tenge;

- Women in business - 1,407 microcredits in the amount of 2,467,279,751 tenge;

- Green financing (since 01.02.2022) - 191 microcredits in the amount of 196,365,000 tenge.

The transition to a green economy is one of the most important EBRD initiatives in many countries, including the Republic of Kazakhstan. On May 30, 2013, the President of the Republic of Kazakhstan approved the Concept for the transition to a green economy.

The Green Economy Financing Project (GEFF) in Kazakhstan includes funding and advice to citizens to improve comfort in their homes and businesses to increase their competitiveness through high-performance technologies and practices. A green economy is an economy that minimizes the use of energy and water in production and consumption, and thereby significantly reduces the negative impact on the environment and climate.

The GEFF program supports this transition by providing funding for investment in Green technologies, i.e.:

• Technologies that minimize energy use

• Technologies generating energy from renewable sources

• Technologies protecting water resources

Under the GEFF agreement, the EBRD provides a loan to local participating financial institutions to finance private borrowers. The funds will be used to invest in projects that minimize the negative impact on the climate in accordance with the EBRD's Green Economy Transition Programme, a comprehensive strategy to reduce greenhouse gas emissions and improve energy efficiency.

In Kazakhstan, GEFF is supported by a dedicated team of consultants, including engineers, environmental, financial and marketing experts, who will offer partner banks and their clients direct support and advice throughout the green project life cycle using best-in-class technologies. Technical support for partner banks and their clients is free of charge. Technical support is provided by a local GEFF team that assists companies at various stages of project development, investment appraisal and project implementation. This helps to identify the best solutions and ensure successful financing of quality green economy projects.

Green lending for women entrepreneurs at “Arnur Credit” is an opportunity to modernize your home or business with quality energy efficient equipment and/or materials using an EBRD credit line. “Arnur Credit” provides loans for energy efficient technologies and equipment to promote the growth and development of small businesses for women entrepreneurs throughout Kazakhstan through a network of over 90 branches including rural areas. The maximum amount of a microloan is up to 20 thousand MCI (69 million tenge). Examples of ongoing projects: windows and doors, boilers, heat pumps, land preparation, thermal insulation, cooling, motors and pumps, lighting, transportation, household appliances, cleaning and flushing, water reuse and treatment, irrigation.

The advantage of green financing can be called many, but I would like to note the points for business - this is a reduction in costs due to the consumption of water and various types of energy, an increase in equipment productivity, an increase in profitability; for households - reducing utility bills by reducing electricity consumption, increasing the value of real estate.

In Almaty 27.03.23 The European Bank for Reconstruction and Development organized a conference on the Green Economy Financing Program in Kazakhstan. As part of the event, a panel discussion was held on the topic “Green Breakthrough: How the transition to a green economy is changing the financial sector of Kazakhstan”. The discussion focused on the challenges and opportunities facing the financial sector on the path to expanding green finance, as well as the role of various organizations in supporting the greening of the economy and the financial sector in Kazakhstan.

The event also made it possible to celebrate the success of the first round of funding and present awards in recognition of all those who have contributed to the Program's success. A wide range of participants were invited to the event, including representatives of authorized state bodies, financial institutions, business owners and other market participants..

The highlight for “Arnur Credit” was the EBRD awards ceremony. As a result, the results of “Arnur Credit” within the framework of the “Women in Business” project on the development of green finance were marked by a high award from the EBRD.

The GEFF II Green Economy Financing Program in Kazakhstan is a good opportunity for “Arnur Credit” clients to obtain financing for housing and business modernization.