History of Microcredit Organization KazMicroFinance starts with its parent company – Kazakhstan Loan Fund (KLF). In 1996 United States Agency for International Development (USAID) announced bidding to implement micro-lending project in Kazakhstan, ACDI/VOCA – American non-government organization won it and consequently became a Founder of Corporate Fund «Kazakhstan Loan Fund».
On November 20, 1997 first loans were disbursed to entrepreneurs in Taldykorgan. Harmonious work of the staff and methodology, successfully tailored to the conditions in our Republic, secured great success to the project in the city of Taldykorgan. The Fund started to gain momentum by expanding geographic boundaries and increasing the number of the served clients.
In 2006 Kazakhstan Loan Fund changed its status and became a Microcredit Organization «Kazakhstan Loan Fund» being at the same time a non-for-profit organization.
During its work in the market of the Republic of Kazakhstan KLF strengthened its position of a stable and transparent microfinance organization targeted at client. So, from 1997 to 2005 6 branches were opened in large cities of the Republic. Each branch has rural outlets.
2007-2009
In late 2006 the Fund established a for-profit subsidiary organization «MCO «KazMicroFinance» LLC (KMF). All clients and employees of Kazakhstan Loan Fund were transferred to a new organization.Being a legal successor of Kazakhstan Loan Fund, KMF keeps a position of a leader in microfinance market in Central Asian region, accumulating KLF achievements.
In 2008 according to a decision of a Founder – American corporation ACDI/VOCA CF «MCO «Kazakhstan Loan Fund» was transformed into CF «KMF-Demeu».
At present Corporate Fund «KMF-Demeu» is a key participant of «MCO «KMF» LLC with 83% share in the company charter capital. The remaining 17% according to employees’ charter capital participation policy (under international program ESOP adopted in 2007) belongs to company employees.
