The First Vice President of the European Bank for Reconstruction and Development (EBRD), Phil Bennett, has confirmed the Bank’s support for green projects in Kazakhstan. His announcement was delivered during his recent visit to the country.
In meetings with members of the Kazakh government and business community, Mr Bennett said that the EBRD remains committed to the country’s sustainable development. He stressed that the Bank has placed special emphasis on sustainable energy and is ready to support viable projects in the sector, specifically with regard to wind and solar power. The EBRD is already considering financing the first major wind farm in the country in Yereymentau.
“We look forward to working together with the authorities to identify and finance bankable projects in this sector” said Mr Bennett. “We are also committed to supporting regional development and improving people's lives through investments in municipal and environmental infrastructure.”
The EBRD has a long track record of engagement in sustainable energy in Kazakhstan and has supported the country’s participation in the Clean Technology Fund (CTF). The Bank also assisted with the development of the country’s legal framework for renewable energy with the CTF providing $1 million of financial support. Since 2008 the Bank has invested over $500 million for energy efficiency improvements in Kazakhstan, accounting for more than 20 percent of the EBRD’s overall investments in the country. It is now developing new approaches to financing clean technology transfer to Kazakh industry with support from the Global Environment Facility (GEF).
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