On 10 May 2024, BANK IM BISTUM ESSEN eG strategically aligned itself with the Asian Credit Fund, providing its first investment. This significant step will bolster ACF’s capital base by the equivalent of EUR 2.5 million in Kazakh Tenge . The aim of this strategic partnership is to enhance access to crucial financing for rural households and businesses, a mission that both institutions are deeply committed to.
Markus Christ, Director Impact Investments at BIB states: “As a socially and ethically oriented bank that is engaged in development finance in emerging and developing countries for more than 17 years, it is important for us to select the right partner institutions that appropriately support our mission to promote financial inclusion and empower the underprivileged population. We are therefore delighted to announce the launch of our partnership with the highly esteemed institution Asian Credit Fund and are convinced that the funds provided will not only contribute to the growth of ACF, but more importantly have a positive impact on Kazakhstani micro-entrepreneurs and their families.”
“Welcoming BANK IM BISTUM ESSEN Eg (further- BIB) as our new financial partner is a testament to our shared vision of driving inclusive growth and prosperity in rural areas of Kazakhstan. With the €2.5 million credit facility secured from BIB, we can accelerate our mission of providing accessible financial services to underserved households and small businesses. This partnership underscores our dedication to making a meaningful difference in the lives of our clients and communities in rural areas of Kazakhstan.” – says Zhanna Zhakupova, Chair of the Management Board.