Abstract: In the 20 years since the dissolution of the former Soviet Union, Kazakhstan has experienced economic setbacks and increased poverty. One major hurdle to small business growth -a vital source of jobs and income- is lack of financing for loans. The Central Asian nation has attracted investors, however. This caselet discusses the work of one of those investors, Tengizchevroil, and its subsidiary Small Business Development Group, and their role in stimulating regional economic growth and employment.
Chevron became the first major Western oil company to operate in Kazakhstan when it formed Tengizchevroil (TCO) in 1993. TCO then established the Small Business Development Group (SBD) with the twin goals of incubating Kazakhstan’s Small and Medium Sized Enterprises (SMEs), while also increasing the supply chain of locally produced goods and services. As a part of this process, SBD identifies and facilitates loans at no interest to aspiring and existing small businesses that support and include social and environmental goals. Click here to read more…
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