BAKU, Azerbaijan, Sept. 24
Trend:
The implementation of the joint project with the World Bank "Kazakhstan Energy Efficiency Project" will come to an end this year, Trend reports citing the Kazakh Ministry of Industry and Infrastructural Development.
Some 96 social facilities (schools, hospitals, kindergartens) are planned to be modernized within this project.
Thus, some 83 facilities have already been modernized. The energy audit has been completed for the remaining 13 facilities. The construction and installation work is planned to be held or is under completion.
The total cost of the project is $21.7 million. The share of local content in goods and work reached 85 percent. More than 2,000 jobs have been created over the period of modernization.
The effect as a result of the project implementation is the total energy savings by 20 percent. Taking into account the positive results of the project, the Ministry of Industry and Infrastructural Development of the Republic of Kazakhstan is considering the issue of its scaling.
A mechanism for financial support for the energy efficient projects in the amount of $3 million will be launched this year by the Ministry of Industry and Infrastructural Development together with the Damu Entrepreneurship Development Fund, within the cooperation with the UN Development Program.
The work is also underway to prepare for the launch of a new joint project with the United Nations Development Program.
This is a grant in the amount of 3.5 billion tenge ($8.2 million) aimed at guaranteeing loans (up to 80 percent of the loan amount) issued by the second-tier banks to the energy service companies for the modernization of equipment (country’s budget - 2.3 billion tenge ($5.4 million), UNDP - 1.2 billion tenge ($2.8 million).
The guarantee mechanism is planned to be launched till the end of 2021.