The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, has announced that it will add a second year to its effort with BG Kazakhstan, a subsidiary of UK-based oil and gas company BG Group, to support women and young entrepreneurs in the Burlinskiy district of western Kazakhstan [1]. The programme provides business-skills training, support in accessing microfinance, “business tours” and “subsidized” consultancy services.
The initial phase of the programme was launched in 2013 and will end in April 2014. The second phase will last for 12 months with EUR 210,000 (USD 291,300) in funding from BG Kazakhstan.
In 2013, EBRD invested EUR 8.5 billion (USD 11.4 billion) in 392 projects across 34 countries in Central Asia, Eastern Europe and North Africa.
BG Group, formed by the demerger of private energy services provider British Gas, reported total assets of USD 66 billion as of 2013.
By Nisha Koul, Research Associate
About European Bank for Reconstruction and Development (EBRD): The European Bank for Reconstruction and Development (EBRD) is a multilateral institution headquartered in London. The bank began operations in 1991 upon the agreement of 40 countries, and it is owned by 61 countries as well as the European Investment Bank and the European Union as of 2012. It aims to finance operations that are both commercially viable and assist development in Central Asia, Eastern Europe and North Africa. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). In 2013, EBRD invested EUR 8.5 billion (USD 11.4 billion) in 392 projects across 34 countries.
Sources and Additional Resources:
[1] EBRD News Stories, “EBRD and BG Kazakhstan Continue Their Support for Women and Young Entrepreneurs in Western Kazakhstan,” http://www.ebrd.com/pages/news/press/2014/140304.shtml
MicroCapital Story, October 4, 2013, “Shell Foundation, GroFin to Provide $100m in Risk Capital, Business Support to Small, Medium-Sized Enterprises in Middle East, Africa,” https://www.microcapital.org/microcapital-brief-shell-foundation-grofin-to-provide-100m-in-risk-capital-business-support-to-small-medium-sized-enterprises-in-middle-east-africa/
MicroCapital Story, June 25, 2013, “European Bank for Reconstruction and Development (EBRD) Considers $100m Loan to Sberbank Kazakhstan (SBK) for Micro-, Small, Medium-Sized Enterprises (MSMEs),” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-considers-100m-loan-to-sberbank-kazakhstan-sbk-for-micro-small-medium-sized-enterprises-msmes/
MicroCapital Story, June 2, 2013, “European Bank for Reconstruction and Development (EBRD) to Loan $10m to KazMicroFinance of Kazakhstan for Micro-, Small, Medium-Sized Enterprises in Rural Areas,” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-to-loan-10m-to-kazmicrofinance-of-kazakhstan-for-micro-small-medium-sized-enterprises-in-rural-areas/
MicroCapital Story, February 21, 2013, “European Bank for Reconstruction and Development Loans $3m to Arnur Credit to Support Micro- and Small Enterprises in Rural Kazakhstan,” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-loans-3m-to-arnur-credit-to-support-micro-and-small-enterprises-in-rural-kazakhstan/
MicroCapital Universe Profile, European Bank for Reconstruction and Development, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Bank+for+Reconstruction+and+Development+%28EBRD%29
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