The loan is intended to boost its services to micro-, small, and medium-sized enterprises – especially in rural areas – to “improve financial inclusion and contribute to Kazakhstan’s recovery from the COVID-19 pandemic.”

This loan is ADB's first intervention in Kazakhstan's financial sector in several years. It will support KMF's efforts to improve financial inclusion and contribute to Kazakhstan's recovery from the COVID-19 pandemic.

Digital technology at the heart of the strategic orientations of microfinance institutions.

Investment will increase access to credit for retail and small and medium enterprises (SMEs) with specific focus on women entrepreneurs.

The investment will increase Omni's capacity to assist their existing as well as new clients, thus supporting the private sector's recovery in the wake of the pandemic.

The collaboration will help address the liquidity constraints that micro, small, and medium enterprises are facing in the country, supporting economic stability.

IFC announced an investment for the National Bank of Iraq to support the growth of smaller businesses in Iraq and help them create jobs and overcome challenges, including from COVID-19-related disruptions.

Richway beat a host of other banks at the International Standards Excellence Award 2021, to take home the Award for performing exceptionally in a tumultuous year characterized by the negative impacts of COVID-19 pandemic.

The Executive Director of Association of Microfinance Institutions said that a total amount ranging between RWF 4 billion ($4M) and RWF 5 billion ($5M) has been channeled through microfinance institutions to help small businesses recover from COVID-19 effects.

The disclosures, contained in CBK's latest annual report, shed light on the behind-the-scenes operations to rescue struggling lenders from sinking.