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EBRD intends to modernize electricity distribution networks in Kyzylorda

15 July 2014 16:47 (UTC+04:00)
EBRD intends to modernize electricity distribution networks in Kyzylorda

By Aynur Jafarova

The European Bank for Reconstruction and Development (EBRD) is interested in financing a program worth 4.6 billion tenge ($25 million) to modernize electricity distribution networks in Kazakhstan's Kyzylorda region.

The mandate letter - a document confirming mutual intent to consider the deal - was signed by EBRD Director for Infrastructure, Russia and Central Asia, Ekaterina Miroshnik, and Akim of the Kyzylorda region Krymbek Kusherbayev, in the presence of Kazakh Prime Minister Karim Massimov, EBRD said.

"This project is the bank's first engagement with an electricity distribution company in Kazakhstan targeting modernization of networks, reduction of losses and improvements to billing. These measures will lead to greater reliability and sustainability of the electricity supply in Kyzylorda," Miroshnik said.

The potential project envisages upgrading the low and medium-voltage distribution networks in Kyzylorda, installing electricity meters, increase the capacity of transformers and making other improvements that would reduce losses and increase energy efficiency.

In May 2014, the EBRD and Kazakhstan signed a far-reaching Partnership for Re-Energizing Reform in Kazakhstan, which envisages boosting reform and investment in areas such as municipal infrastructure.

Since the beginning of its operations in Kazakhstan, the EBRD has invested around $6.5 billion in the country's economy, with more than half of the bank's projects supporting the private sector.

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