ASTANA, Kazakhstan, May 30. European Investment Bank (EIB Global) and Baiterek's subsidiary, Kazakhstan Housing Company JSC (KHC), signed a memorandum of understanding within the framework of the International Forum in Astana, Trend reports.
According to the press service of NMH "Baiterek" (National
Managing Holding "Baiterek"), the signing ceremony was attended by
the Chairman of the KHC Management Board Altai Kuzdibaev and EIB
Vice-President Kyriakos Kakouris.
The document is aimed at developing financing mechanisms for
projects in the field of sustainable, energy-efficient, and
environmentally friendly housing in the Republic of Kazakhstan.
In addition, within the framework of the agreements reached, EIB Global is considering providing framework financing of up to $50 million, aimed at implementing housing projects that meet international environmental standards. Special attention will be paid to reducing building energy consumption by at least 20 percent and introducing innovative "green" technologies in construction.
“Signing the memorandum with the European Investment Bank opens new horizons for attracting sustainable financing. Baiterek Holding is systematically working on implementing the ESG agenda and developing green infrastructure. This agreement strengthens Kazakhstan’s role as a reliable partner in sustainable growth and international cooperation,” noted Rustam Karagoshin.
Moreover, the parties also discussed further cooperation with other subsidiaries of the holding, including the Development Bank of Kazakhstan and the Damu Fund. Currently, projects in renewable energy, support for small and medium-sized businesses, and infrastructure modernization are being developed in these areas.
The cooperation is carried out within the framework of the FELICITY II program, implemented by EIB Global together with GIZ with the support of the International Climate Initiative (ICI) of the Federal Ministry for Economic Affairs and Climate Action of Germany.
