EBRD Supports Energy-Efficient Railways in Kazakhstan
17 May 2011: The European Bank for Reconstruction and Development (EBRD) has entered into a memorandum of understanding (MOU) with Kazakhstan's railway authorities to promote an energy efficient railway network.
The MOU with JSC National Company Kazakhstan Temir Zholy (KTZ), one of the largest users of energy in the country, was signed on the eve of EBRD's 20th Annual Meeting in Astana, Kazakhstan. Under the MOU, a joint working group will develop by the end of 2011 an investment programme to implement energy efficiency priorities, thereby reducing the national railways' carbon footprint.
During the signing ceremony, Thomas Mirow, EBRD President, underscored the effectiveness of energy efficiency in reducing carbon emissions in the short to medium term. He added that increased energy efficiency of the Kazakh Railways will "strengthen the company's economic competitiveness and energy security." EBRD will also consider providing long-term financing later this year in the range of US$100-200 million to support the energy efficiency investment programme. [EBRD Press Release]