20:37, 23 June 2017 | GMT +6

EBRD to help solve infrastructural problems in E Kazakhstan

UST-KAMENOGORSK. KAZINFORM Today, the East Kazakhstan Regional Akimat and the European Bank for Reconstruction and Development have signed loan agreements for street lighting modernization projects in Astana, the East Kazakhstan Governor press-service told Kazinform correspondent.

This loan will make it possible to upgrade the street lighting in two largest cities of the region, Ust-Kamenogorsk and Semey. The total cost of the projects will equal 4.8 billion tenge. Of these, the EBRD loan is KZT3.6bn.

The Governor of the Region, Danial Akhmetov, thanked the bank team for the opportunity to implement important investment projects.

"Using the resources of the financial development institutions allows us to improve the infrastructure of settlements, solve the region's important issues of social and economic development and improve the living standards of the citizens," Danial Akhmetov said.

Several credit contracts and interim agreements for KZT40bn have been signed between the regional administration and the financial institution. It is planned that this amount will have increased up to KZT56bn by the year end.

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Banks Investment projects East Kazakhstan region Akimat

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