IFC and ACF Partner to Boost Rural Microfinance in Kazakhstan with $5M Loan

In a significant step toward advancing financial inclusion in Central Asia, the International Finance Corporation (IFC)—a member of the World Bank Group—has joined forces with the Asian Credit Fund (ACF), one of Kazakhstan’s leading microfinance institutions, to strengthen access to credit for micro enterprises in rural Kazakhstan. The partnership, formalized through a $5 million loan facility, will primarily target agricultural borrowers and women-owned businesses, catalyzing job creation, economic resilience, and sustainable development in underserved regions.

Addressing Credit Gaps in Rural Kazakhstan

Access to affordable financing remains a key obstacle for small and micro enterprises in Kazakhstan's rural areas, where traditional banking services are often limited or non-existent. With a vast portion of the country’s population engaged in agriculture and informal business activities, limited access to working capital and financial services stifles productivity and growth.

Through this new collaboration, IFC aims to empower micro entrepreneurs, smallholder farmers, and women-led enterprises with the financial tools they need to invest in their businesses, expand operations, and build long-term resilience.

“For businesses in rural Kazakhstan to grow, create jobs, and thrive, overcoming limited access to credit is crucial,” said Zafar Khashimov, IFC Country Manager. “IFC’s financing will help ACF provide that much-needed funding to micro enterprises. By empowering these underserved groups and promoting financial inclusion, the project will strengthen rural communities, drive job creation, and contribute to sustainable development.”

ACF’s Mission-Driven Expansion

The Asian Credit Fund is a non-bank microfinance institution established to serve economically active but underserved populations in Kazakhstan, especially those in remote and rural communities. ACF offers microloans that support home-based businesses, farming, and essential consumption needs.

ACF Chairperson Christian Andersen emphasized the strategic significance of this partnership:

“Partnering with IFC is a significant milestone for ACF. Their expertise and global experience bring immense value to our mission. This loan facility not only strengthens our financial capacity but also reinforces our strategic direction towards empowering women and supporting agri-businesses, which are critical for sustainable community development.”

Focus Areas: Agriculture and Women Entrepreneurs

This partnership will focus on two critical pillars of rural development:

1. Agricultural Lending Many farmers in Kazakhstan operate without formal financial services, relying on limited savings or informal credit. With the new funding, ACF will be better equipped to offer tailored loan products to agricultural borrowers, enabling investments in:

   • Livestock and crop production

   • Farm equipment

   • Irrigation and storage solutions

2. Women-Owned Businesses Women in rural Kazakhstan often face additional barriers to financial access due to social norms, legal hurdles, and lack of collateral. ACF has a long-standing focus on gender-responsive financing, and the IFC-backed facility will expand its outreach to:

   • Support women entrepreneurs in home-based businesses

   • Promote economic independence

   • Facilitate capacity building and financial literacy initiatives

A Shared Vision for Inclusive Growth

The partnership reflects the shared commitment of IFC and ACF to promote inclusive economic development, reduce rural poverty, and strengthen local value chains through responsible microfinance.

“This financing is more than a loan—it is an investment in communities that are often left behind,” said Zhanna Zhakupova, Chairperson of ACF’s Management Board. “With IFC’s support, we can expand our footprint and reach more people who are ready to grow but lack the resources.”

Signing and Next Steps

The loan agreement was formally signed by Zhanna Zhakupova and Zafar Khashimov, underscoring the start of a strategic multi-year engagement. The funds will be disbursed in phases and integrated into ACF’s rural lending programs, with IFC providing technical assistance and advisory support to strengthen risk management, impact tracking, and institutional growth.

IFC in Central Asia

The IFC has been a vital partner in Kazakhstan’s development, particularly in the private sector. Through its financing and advisory services, it has supported financial institutions, agribusinesses, infrastructure projects, and climate resilience initiatives throughout the region.

This latest initiative aligns with IFC’s broader efforts to:

• Promote inclusive finance

• Advance gender equality

• Support climate-smart agriculture

• Foster resilient economies in emerging markets

The IFC-ACF partnership marks a new chapter in Kazakhstan’s journey toward inclusive and sustainable rural development. By addressing long-standing credit gaps and focusing on high-impact segments like agriculture and women entrepreneurship, this collaboration is set to uplift thousands of lives and reinforce the fabric of rural economies across the country.