BAKU, Azerbaijan, Sept. 22
Trend:
The Eurasian Development Bank (EDB) and Batys Transit JSC signed a loan agreement to finance the construction and operation of street lighting networks in the city of Atyrau, Kazakhstan, Trend reports via the EDB.
This is the 4 stage of the general PPP project for lighting streets and highways in the Atyrau region of Kazakhstan. The length of the new section is 148,525 meters. The cost of the project is 4.6 billion tenge ($10.7 million).
The second and third stages of the project have already been implemented and were also funded by the EDB.
The EDB became the winner of the Environmental Finance's 2021 IMPACT Awards in September 2021, for the project "Construction of street lighting networks in the city of Atyrau", in the "Energy" category.
The AIFC Green Finance Center (a subsidiary of the Bank and AIFC Administration JSC) provided project support and developed internal documents of Batys Transit JSC, including a Policy in the field of "green" financing.
According to an external review developed by the "Green investments of Kazakhstan group" consulting agency, the specified policy of the borrower fully complies with the Principles of "green" lending to LMA (Loan Market Association) and LSTA (Loan Syndications and Trading Association).
The implementation of each of the project stages allows to reduce the number of road accidents (by 44 percent), the specific weight of crimes (by 0.5 percent), the cost of energy consumption of street lighting networks (up to 70 percent), maintenance costs (by 36 percent), CO2 emissions (by 0.6 tons/year) according to the results of the second and third stages.
"The project is being implemented in the power sector, the priority sector of the Bank, with the use of a public-private partnership mechanism. The Borrower's PPP projects have significant socio-economic effects on the development of the Atyrau region of the Republic of Kazakhstan, as well as a positive impact on the environmental situation in the region, which is confirmed by the report of an independent consultant and the receipt of a prestigious international award in the field of ecology," said Amangeldy Isenov, Deputy Chairman of the EDB Board.