EBRD to finance infrastructure projects in East Kazakhstan

Within the framework of his visit to the United Kingdom organized in partnership with the European Bank for Reconstruction and Development, Governor of East Kazakhstan region Danial Akhmetov familiarized with the activities of the Southwark Integrated Waste Management Facility, as well as with the local government body responsible for the transport system in Greater London Transport for London, the regional administration"s press service reports.

In London, Danial Akhmetov and the EBRD"s Vice President for Banking Alain Pilloux discussed prospects for cooperation in terms of joint implementation of infrastructure investment projects in East Kazakhstan region.

Following the meeting, governor Akhmetov and EBRD President Suma Chakrabarti signed a KZT5.6 billion Agreement on the financing of the project for Modernization of street lighting systems in cities and regional centers of East Kazakhstan region.

The document provides for the replacement of more than 32 thousand lamps in 6 cities and 11 regional centers of the region with a population of more than 630,000 people. This project is the second phase of introducing energy-saving technologies in street lighting systems in the region.

As previously reported, the sides agreed on a senior loan of KZT4.8 billion agreement that will finance the modernization of street lighting systems in the cities of Ust-Kamenogorsk and Semey. The works on the project are scheduled to start in May.

During their talks, the governor of East Kazakhstan region and EBRD President also agreed to consider the possibility of developing technical documentation and EBRD providing KZT29.5 bln in the financing of a project of a modern waste management and recycling facility in Ust-Kamenogorsk.

It is noted that EBRD will also study the possibility of financing gas supply project that is thought to bring natural gas to 50 rural settlements of Zaysansky, Urdzharsky, and Tarbagataysky districts in the amount of KZT33.3 bln.

It is noteworthy that since 2015 the regional administration and EBRD signed 10 loan agreements for a total of KZT46.1 bln.

At the end of the meeting, Sir Suma Chakrabarti noted that today East Kazakhstan region is the leading partner of EBRD among Kazakh region and presented the Letter of Gratitude to its governor for his contribution to the implementation of investment projects. EBRD President also invited Danial Akhmetov to take part in the EBRD Central Asia Investment Forum November 2018, which will be held in Beijing in November 2018.