News

EBRD Invests in Heating Modernization Programme in Kazakhstan

EBRD23 May 2012: The European Bank for Reconstruction and Development (EBRD) is investing in a modernization programme for the district heating infrastructure in Aktau, Kazakhstan, with a view to finance several other municipal projects in the wider Mangystau region.

The programme is expected to reduce energy losses and improve environmental standards. Under the programme, EBRD will provide the Aktau water and district heating company, State Communal Enterprise “Heating, Water Networks and Wastewater” (TVS&V), with a loan of up to 1.2 billion Kazakh tenge (€6 million). The Clean Technology Fund (CTF), a multi-donor fund managed by the World Bank and regional development banks, whose programmes in Kazakhstan are implemented by EBRD and the International Finance Corporation (IFC), will provide a loan of up to US$ 4.3 million (€3.2 million equivalent).

Thomas Mirow, EBRD President, highlighted the importance of  Kazakhstan's economic and agricultural potential globally. EBRD also indicated interest in investments in modernization of solid waste management services and rehabilitation of the desalination plant in Aktau, as a means to reducing emissions in this urban area. [EBRD Press Release]