A London-based bank has provided loan a worth €106 million (£90.8m) to help Kazakhstan upgrade its electricity networks.
The Central Asian Electric Power Corporation (CAEPCO) will use the cash to reduce heat and electricity losses – which means more efficiency and less pollution – and will also upgrade energy generators and electricity distribution networks in the cities of Pavlodar and Petropavlovsk.
The European Bank for Reconstruction and Development (EBRD) has also granted a €400,000 (£342,500) loan to the Ministry of Environmental Protection to improve environmental standards and more than €160,000 (£137,030) for energy efficiency-associated audits and research.
The improvements are expected to save almost half a million tonnes of greenhouse gas emissions a year.
Sir Suma Chakrabarti, EBRD President said: “We support the Government’s drive to have a greener and more efficient country. What makes this deal even more important is that this improvement in efficiency will be made by a private company. We call on the government to raise standards in the industry to international levels, which will enable entrepreneurs to help the country go greener.”
CAEPCO accounts for nearly 6% of electricity production in Kazakhstan, serving almost a million customers.