News Column

EBRD to issue $34 mln loan for modernization of street lighting in Almaty

June 10, 2014

The European Bank for Reconstruction and Development will issue $34 million loan for the Almaty Kala Zharyk company for the implementation of the project for modernization of the street lighting in the city of Almaty, the press service of the Almaty city administration reported Tuesday.

The loan agreement was signed Tuesday during the meeting of Almaty mayor Akhmetzhan Yesimov with EBRD chairman Suma Chakrabarti.

Mayor Yesimov said modernization of the city's street lighting will meet the principles of the green economy strategy of Kazakhstan.

The mayor noted the significant potential for cooperation with the Bank in all sectors of the urban economy.

In his turn, EBRD chairman expressed readiness to continue cooperation with Almaty and said the EBRD is pleased to support the project.

The press service noted the new energy-efficient technologies will reduce the spendings of the city budget on maintenance of street lighting and electricity consumption by 30%.

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Source: AKIpress News Agency (Kyrgyz Republic)