The European Bank for Reconstruction and Development (EBRD) and Kazakhstan’s Bank CenterCredit (BCC) have partnered to back the operational expansion of AB Restaurants (ABR), one of the nation’s largest catering groups.

Under a new risk-sharing agreement, the EBRD will assume half the risk on a KZT 3.7 billion loan (equivalent to US$ 8.2 million or €7.2 million) issued to ABR by private lender BCC. The joint backing aims to support innovation and establish elevated standards across the domestic food-service industry while encouraging broader market competition.

ABR plans to allocate the capital towards upgrading and re-concepting five of its current venues, alongside developing up to five new locations across Kazakhstan’s main urban hubs, Almaty and Astana. The financial package is designed to consolidate ABR’s balance sheet to advance its long-term corporate growth strategy.

Currently, ABR operates 48 dining establishments across the country, attracting approximately 7 million visitors each year.

To date, the EBRD has committed nearly US$ 13.8 billion (€12.3 billion) to Kazakhstan across 361 projects, making the nation the largest and longest-running recipient of EBRD capital in Central Asia.