Kazakh parliament ratifies $21mln grant agreement with World Bank

Lower house of the Kazakh parliament has ratified today the Grant Agreement with World Bank for the Kazakhstan Energy Efficiency Project.

The amount of the grant is US$ 21.7 million, akipress.org reports.

The Agreement was signed on June 28, 2014 in Astana by Kazakh Deputy Prime Minister - Minister of Industry and New Technologies, Asset Issekeshev, on behalf of the World Bank – by Sebnem Akkaya, Country Manager for Kazakhstan.

The Agreement provides for the implementation of the four-year project to assist the Republic of Kazakhstan in creating a favorable policy environment to help build the country’s capacity to reach its energy efficiency potential.

Issekeshev said the Project will help modernize socially significant public facilities in all the regions of the country – some 75 public facilities, including schools, kindergartens, hospitals, and street lighting facilities in 16 region and cities of Astana and Almaty.

The Project will also focus on improving the institutional framework supporting the creation of sustainable energy financing mechanisms, as well as public campaign to promote energy efficiency.

For the agreement be ratified in Kazakhstan, it must be passed by the upper house of the parliament and president of Kazakhstan.