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EBRD eyes funding Kazakhstan’s infrastructure modernization

Kazakhstan Materials 6 December 2022 11:52 (UTC +04:00)
EBRD eyes funding Kazakhstan’s infrastructure modernization
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, December 6. European Bank for Reconstruction and Development (EBRD) is looking to allocate 4.1 billion Kazakh tenge ($8.6 million) to fund the development of municipal infrastructure in Kazakhstan’s East Kazakhstan Region, Trend reports, citing EBRD.

The total cost of the project is 5.1 billion Kazakh tenge ($10.7 million). Some 900 million Kazakh tenge ($1.9 million) will be allocated from the budget of the region’s Akimat (municipality), while “PPP Center of East Kazakhstan Region” JSC will provide the remaining 100 million Kazakh tenge ($211,000).

The project aims to modernize the street lighting system in the city of Ust’-Kamenogorsk, the administrative center of the East Kazakhstan region. Some 6,000 spotlights along approximately 150 municipal streets in the city and its vicinity are expected to be installed within the framework of the project.

With the implementation of the project, the EBRD expects to save around 60 percent of primary energy and CO2 emissions.

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