The European Bank for Reconstruction and Development (EBRD) announced a pre-financing agreement on Thursday with the municipal heat and electricity provider Kyzylordateploelektrocentr to modernize heating stations in Kyzylorda, Kazakhstan.
The two parties will develop the program with the support of the Clean Technology Fund (CTF) under the district heating sector modernization framework. The agreement will also seek to lower carbon dioxide emissions.
Janet Heckman, the EBRD's director for Kazakhstan, signed the pre-financing agreement with K.E. Kusherbaev, the akim of Kyzylorda Oblast, during the III Baykonur Investment Forum.
"This modernization program is essential for the many people of Kyzylorda who will get more reliable heating thanks to individual heating substations in many buildings," Heckman said. "We are pleased with our cooperation with the municipal authorities of Kyzylorda and look forward to working together to improve people's lives."
The modernization program will improve the efficiency of heating stations, transmissions and distribution networks.
"We are very pleased with the high level of cooperation with EBRD," Kusherbaev said. "We see this project as an important lead to improve the city residents' lives quality as well as a tool to ensure sustainable development of the district heating company in future."
- National Bank of Ukraine removes restrictions on foreign-currency transactions, investment metals
- Black Sea Trade & Development Bank visits Azerbaijan to boost business relationships
- VTB Bank finances three new planes for SunExpress airline
- National Bank of Ukraine makes it easier for businesses to invest abroad
- National Bank of Ukraine eases lending regulations for deposit guarantee funds to other banks
- Black Sea Trade and Development Bank, Russian Federal Corp. for SMEs support business growth
- Oleg Demidov named commercial director for Rosbank Factoring
- Eurasian Development Bank sells bonds on Kazakhstan Stock Exchange
- EY World Entrepreneur of the Year event to name world's top entrepreneur
- ACBA-CREDIT AGRICOLE, Microsoft parter for Armenian digital business technology seminar