ASTANA, Kazakhstan, September 19. The European Bank for Reconstruction and Development (EBRD) plans to provide a senior loan of up to 50 million euros to City Transportation Systems LLP (a municipally-owned public transport company in Kazakhstan), the EBRD told Trend.
The loan will help put the wheels in motion for the acquisition of up to 100 electric buses, aiming to keep pace with the rising tide of public transportation needs in the city of Astana.
The project is the continuation of the Bank's involvement in the improvement of public transport operations in the city of Astana. It will support the deployment of electric buses and the expansion of public electric mobility in the city. The shift to electric mobility will significantly reduce greenhouse gas emissions, tailpipe air pollutant emissions, and noise pollution. It will also encourage a modal shift from private to public transportation with more safe and reliable public bus services.
Meanwhile, the EBRD has a project portfolio in Kazakhstan valued at 3 billion euros, covering 122 active projects as of July 31, 2024.
Investments in sustainable infrastructure projects make up 71 percent of the total portfolio, with their value rising to 2.07 billion euros.