ASTANA, Kazakhstan, March 4. Kazakhstan may receive funding for its nuclear power plant project from banks in countries supplying the necessary equipment, said Arman Kassenov, Vice Minister of National Economy, Trend reports.
Speaking at a government briefing, Kassenov explained that the financing for the project would be determined based on available resources. He noted that when foreign equipment is used in construction, export-credit agencies from the supplying countries could provide financial support. For instance, China’s Export-Import Bank (Exim Bank), Germany’s Hermes Agency, and the U.S. Export-Import Bank (Exim Bank) could potentially offer financing.
"The construction of a nuclear power plant is similar to any other commercial project," Kassenov said. "When foreign equipment is used, financing can come from export-credit agencies in the respective countries".
He also highlighted that energy projects are typically attractive and low-risk for development institutions due to the predictable demand for energy production and long-term tariff mechanisms. "Energy projects are considered low-risk worldwide because the volume of production is clear, and tariff structures are set for several years ahead. Financing will certainly be found under favorable conditions".
On October 6, 2024, a referendum was held in Kazakhstan regarding the construction of a nuclear power plant in the country. As many as 71.12 percent of Kazakh citizens voted in favor. The voter turnout was 63.66 percent.
