IFC and Bank CenterCredit partner to expand trade finance access for Kazakh SMEs

IFC, a member of the World Bank Group, and Bank CenterCredit have announced a partnership aimed at enhancing access to cross-border financing for Kazakh importers and exporters, with a particular focus on small and medium enterprises (SMEs). This collaboration seeks to support Kazakhstan’s growing participation in international trade by addressing key financing barriers.

Under the agreement, Bank CenterCredit becomes an issuing and confirming bank within IFC’s Global Trade Finance Program (GTFP), making it IFC’s sole active partner bank in Kazakhstan under the initiative. This partnership also marks IFC’s renewed engagement with Bank CenterCredit, a long-standing client.

Backed by IFC’s guarantees, Bank CenterCredit will be empowered to issue and confirm trade finance instruments such as letters of credit. This capability provides Kazakh companies with more reliable access to the financing essential for international trade.

Ruslan Vladimirov, President of Bank CenterCredit, said, “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.”

The GTFP is IFC’s flagship trade finance initiative, providing confirming banks with risk coverage on trade transactions across emerging markets. Since its inception in 2005, the program has supported over $141 billion in trade through more than 100,000 transactions.

The program aligns with strategic priorities such as job creation and food security, with many beneficiary firms operating in International Development Association (IDA) countries.

Supporting SMEs overcoming trade finance barriers

The partnership would have a significant impact on SMEs, which often face the greatest challenges in securing trade finance. 

Smaller firms are frequently declined due to banks’ limited risk capacity or lack of correspondent banking relationships necessary to support cross-border transactions.

By leveraging IFC’s global network and risk mitigation tools, Bank CenterCredit will be better equipped to assist Kazakh companies seeking to expand their international trade activities.

Zafar Khashimov, IFC Country Manager for Kazakhstan, said, “We are pleased to welcome Bank CenterCredit as IFC’s sole active GTFP partner bank in Kazakhstan. 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.”

This partnership between IFC and Bank CenterCredit is a strategic effort to enhance trade finance accessibility in Kazakhstan.