The International Finance Corporation (IFC) and Bank Center Credit have launched a new partnership to expand access to trade finance in Kazakhstan, with a particular focus on small and medium-sized enterprises (SMEs).
Under the agreement, Bank Center Credit has joined IFC’s Global Trade Finance Program (GTFP) as both an issuing and confirming bank. The partnership will allow the bank to provide internationally backed trade finance instruments, including letters of credit, helping Kazakh businesses access financing for cross-border transactions.
SMEs are expected to benefit significantly from the initiative, as smaller businesses often face difficulties obtaining trade finance because of limited banking risk capacity and international correspondent relationships. IFC’s guarantees and global network will help Bank Center Credit support companies seeking to enter new markets and expand international trade.
The partnership comes as Kazakhstan continues to strengthen its role in regional and global commerce. Improved access to trade finance can help businesses strengthen supply chains, increase exports and imports, create jobs and improve economic resilience.
IFC’s Global Trade Finance Program provides risk coverage to banks supporting international trade in emerging markets. Since its launch in 2005, the program has supported more than $141 billion in trade through over 100,000 transactions.
The new partnership also marks IFC’s renewed engagement with Bank Center Credit and makes the bank IFC’s only current GTFP partner in Kazakhstan. By expanding access to international trade financing, the initiative is expected to create new opportunities for Kazakh businesses, particularly SMEs seeking sustainable growth in regional and global markets.
