ASTANA, Kazakhstan, December 11. The European Bank for Reconstruction and Development (EBRD) will provide senior debt financing for design, construction, outfitting and maintenance of a 630-bed multidisciplinary hospital in Kazakhstan's Kokshetau, Trend reports.
The project will be undertaken by Renell Kokshetau LLP under a 7-year public private partnership contract signed with Kazakhstan on 22 December 2022.
According to the bank, approval of the loan is scheduled for March 6, 2024.
The project aims to replace obsolete hospital infrastructure and medical equipment in Kokshetau; support delivery of seamless healthcare experience and increase the availability and quality of medical services provided; create new workplaces during both the project's construction and operation phases; and have a positive multiplicative effect on the economy through a better healthcare provision.
The total cost of the project is 467 million euros, the EBRD will finance 110 million euros.
The European Bank for Reconstruction and Development's (EBRD) current project portfolio in Kazakhstan reaches 2.8 billion euros as of October 31, 2023, based on the implementation of 114 active portfolio projects.
Investments in sustainable infrastructure projects account for 70 percent of the overall portfolio (1.97 billion euros). The industry, commerce, and agribusiness sectors also benefit significantly from EBRD's investments, with projects worth approximately 689 million euros making up around 24 percent of the portfolio.
Furthermore, the EBRD's support for the financial sector of Kazakhstan, with investments in financial institutions comprising 5 percent of the portfolio, amounts to 148 million euros.