{"id":42539,"date":"2019-09-15T17:25:17","date_gmt":"2019-09-15T15:25:17","guid":{"rendered":"https:\/\/csregypt.com\/?p=42539"},"modified":"2019-09-15T17:25:17","modified_gmt":"2019-09-15T15:25:17","slug":"ebrd-to-extend-e300-m-to-kazakhstan-to-support-renewable-energy","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/ebrd-to-extend-e300-m-to-kazakhstan-to-support-renewable-energy\/","title":{"rendered":"EBRD to extend \u20ac300 m to Kazakhstan to support renewable energy"},"content":{"rendered":"<p style=\"direction: ltr;\">The European Bank for Reconstruction and Development (EBRD) will extend \u20ac300 million to Kazakhstan to promote the renewable energy sector.<\/p>\n<p style=\"direction: ltr;\">The funds will be channeled for implementing the bank\u2019s Kazakhstan Renewables Framework .<\/p>\n<p style=\"direction: ltr;\">The facility will promote solar, wind, hydro, biogas, distribution and transmission projects and is expected to reduce CO<sub>2<\/sub>\u00a0emissions by at least 500,000 tons per year.<\/p>\n<p style=\"direction: ltr;\">The EBRD Board of Directors approved the extension to the existing Framework, which has been almost fully utilized. The first phase supported the creation of 262 MW of renewable power-generation capacity across the country, attracted four private international investors and supported a grid-strengthening project.<\/p>\n<p style=\"direction: ltr;\">In addition to the EBRD funding, the Framework will be supported by concessional finance from the Green Climate Fund. It will also benefit from a comprehensive technical cooperation program, which will support competitive tendering for wind projects, the development of a carbon market in Kazakhstan and the promotion of gender inclusion in the renewable energy sector.<\/p>\n<p style=\"direction: ltr;\">EBRD signed earlier in September a memorandum of understanding with the Kazakh Ministry of Energy to address the implications of climate change in \u00a0Kazakhstan and stress the bank\u2019s commitment to supporting renewables projects in Kazakhstan, focusing on financing competitively tendered renewables projects.<\/p>\n<p style=\"direction: ltr;\">The extension of the Kazakhstan Renewables Framework will help the country to reach its renewable energy targets of 3 percent of generation by 2020 and 50 percent by 2050 and to meet its commitments under the Paris Climate Agreement.<\/p>\n<p style=\"direction: ltr;\">To date, the EBRD has invested over \u20ac8.3 billion (US$ 9.1 billion equivalent) through 262 projects in the economy of Kazakhstan. Over \u20ac2 billion of this funding has supported\u00a0<a href=\"https:\/\/www.ebrd.com\/what-we-do\/get.html\">Green Economy Transition<\/a>\u00a0projects.<\/p>\n<p style=\"direction: ltr;\">The bank is the largest international investor in the country\u2019s economy outside of the oil and gas sectors and has a wide presence in Kazakhstan, with two Resident Offices in Nur-Sultan and Almaty as well as five local offices for outreach in remote areas of the country.<\/p>\n<p style=\"direction: ltr;\">\n","protected":false},"excerpt":{"rendered":"<p>The European Bank for Reconstruction and Development (EBRD) will extend \u20ac300 million to Kazakhstan to promote the renewable energy sector. The funds will be channeled for implementing the bank\u2019s Kazakhstan Renewables Framework . The facility will promote solar, wind, hydro, biogas, distribution and transmission projects and is expected to reduce CO2\u00a0emissions by at least 500,000 [&hellip;]<\/p>\n","protected":false},"author":410,"featured_media":42540,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,6030],"tags":[6087,6841,6840,6402],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EBRD to extend \u20ac300 m to Kazakhstan to support renewable energy - Csr Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/ebrd-to-extend-e300-m-to-kazakhstan-to-support-renewable-energy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD to extend \u20ac300 m to Kazakhstan to support renewable energy - Csr Egypt\" \/>\n<meta property=\"og:description\" content=\"The European Bank for Reconstruction and Development (EBRD) will extend \u20ac300 million to Kazakhstan to promote the renewable energy sector. The funds will be channeled for implementing the bank\u2019s Kazakhstan Renewables Framework . 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