EBRD to allocate EUR 9 bln for energy efficiency projects

16:30, 19 May 2011

ASTANA. May 19. KAZINFORM /Gulnara Zhandagulova/ The European Bank for Reconstruction and Development has allocated EUR 9 bln for the energy-efficiency projects, Director of the EBRD Department for Energy Efficiency Terry McCallion has said it at a conference on Industrial modernization and energy efficiency - financing opportunities and advantages held in Astana today.

"Currently our financing makes EUR 9 bln for 350 projects", he said.

The EBRD is the largest investor in the focusing on sustainable energy development. In 2008 the EBRD established Kazakhstan Sustainable Energy Finance Facility (KAZSEFF) to support energy saving in private sector through financing and consulting. The average volume of investments in energy efficiency varies from USD 250,000 to USD 2,500,000. The maximum loan amount for one company (for one or several projects) must not exceed USD 7,000,000.

Kazakhstan's potential in energy efficiency and renewable energy is big enough, but it is not used in full, the representatives of the EBRD say. Noteworthy to say, that these two aspects are key components of the country's modernization strategy. Today the domestic enterprises understand that in order to be competitive in future, they should develop their businesses in such a way, that to be less dependent on energy consumption.

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