IFC and Bank CenterCredit Partner to Boost Trade Finance in Kazakhstan

The International Finance Corporation (IFC), a member of the World Bank Group, has joined forces with Bank CenterCredit (BCC) to bolster trade finance accessibility for businesses in Kazakhstan. This new partnership aims to particularly benefit small and medium-sized enterprises (SMEs) by providing them with enhanced access to the cross-border financing essential for international trade.

Under the agreement, BCC becomes IFC's only current partner bank in Kazakhstan for the Global Trade Finance Program (GTFP). This re-engagement with a long-standing client will enable BCC, backed by IFC's guarantees, to issue and confirm crucial trade finance instruments like letters of credit. This support is vital for Kazakh companies looking to expand their international trade activities, especially for SMEs that often struggle to secure such financing due to risk capacity limitations.

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Joining IFC’s Global Trade Finance Program is an important milestone for us. This facility will allow us to expand our trade finance offering, better serve our corporate and SME clients, and support Kazakhstan’s growing role in regional and global trade.

Ruslan Vladimirov, President of Bank CenterCredit, expressed enthusiasm for the partnership, calling it an important milestone that will allow the bank to expand its trade finance offerings and better serve its clients. Zafar Khashimov, IFC Country Manager for Kazakhstan, highlighted the program's role in helping businesses pursue new markets, strengthen supply chains, and boost economic resilience. The GTFP has a significant track record, having supported over $141 billion in trade globally since its inception in 2005.

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By expanding access to internationally backed trade finance instruments, this partnership will help businesses from Kazakhstan, especially SMEs, pursue new markets, strengthen supply chains, and participate more actively in regional and global trade. In doing so, it will support business growth, job creation, and greater economic resilience in Kazakhstan.