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EBRD, Kazakhstan government signed cooperation agreement in field of steady energy

Atyrau. June 6. Kazakhstan Today - The European Bank of Reconstruction and Development (EBRD) and the government of Kazakhstan signed the cooperation agreement in the field of steady energy. The chairman of JSC KEGOC Almasadam Satkaliyev informed during the session of the council of KazEnergy Association, the agency reports. "We signed two documents less than an hour ago. The first document is the cooperation agreement in the field of steady energy," A. Satkaliyev said. The agreement was signed by the Ministers of Economics, Environmental Protection, Energy and Mineral Resources and the representatives of Agency for Regulation of Natural Monopolies. "The other signee was EBRD chairman Jean Lemer," KEGOC chairman explained. The document "proclaims readiness of the parties to cooperate in attraction to Kazakhstan advanced international experience in the field of steady power including both involving in balance of renewable sources of electric power and continuation of structural reforms in the industry." "The agreement provides improvement of tariff methodology and financing." "Credit agreement has been signed between KEGOC and EBRD for the sum of $400 million with terms of loan from 9 till 15 years for realization of the second stage of modernization of the national electric network," he continued. According to KEGOC chairman, the loan and its conditions are "unprecedented for the region both by the rates of loan and the period of preparation of signing of this agreement." "The loan is presented without guarantee, half of the loan is EBRD's in the form of bank syndicate," A. Satkaliyev informed.

Resourse: Kazakhstan Today

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