Development Bank of Kazakhstan (a subsidiary of Baiterek Holding, hereinafter – DBK, the Bank) has signed a number of agreements on sustainable and “green” projects with a total value exceeding USD 2 billion. Six of the seven agreements were concluded at the Regional Environmental Summit.
By formalising these strategic arrangements, the Bank demonstrated its practical contribution to advancing the country’s environmental agenda. с
“The Regional Environmental Summit in Astana has become a key platform for consolidating the efforts of the state, business and international institutions. The agreements signed are real projects that will create jobs, generate tax revenues and bring in export earnings, while DBK’s financing is aimed at supporting Kazakhstan’s path towards carbon neutrality by 2060. We are attracting global capital and advanced technologies to drive the deep transformation of the country’s energy and industrial sectors,” emphasised Marat Yelibayev, Chairman of the Management Board of DBK.
An agreement on general terms was signed with Aktas Energy (Total) LLP in the amount of USD 930.6 million for the construction of a 1 GW wind power plant in the Zhambyl Region. The project is being implemented with the participation of an international syndicate of lenders, including Proparco, DEG, EBRD, Société Générale, QNB, SCB, CCB and other leading institutions.
At the Regional Environmental Summit, a loan agreement was signed with Vigor Holding LLP for approximately CNY 74.9 million to finance the construction of a 70 MW solar power plant in the Kyzylorda Region.
An agreement was also concluded on the opening of a credit line in the amount of KZT 10.568 billion for the construction of the Merke HPP-5, HPP-6 and HPP-7 cascade in the Zhambyl Region.
With Qazaq Kalium LTD Ltd, the Bank signed an agreement on indicative financing terms in the amount of USD 650 million for a project to establish the only and largest potash fertiliser production facility in the West Kazakhstan Region, with a capacity of up to 1.5 million tonnes of output per year.
An important step in industrial modernisation is the launch of financing for Qarmet JSC under a credit line agreement in the amount of USD 256.56 million. The funds will be used for the comprehensive gasification of production facilities in the Karaganda Region, enabling the company’s large-scale transition to cleaner fuel and improving the environmental situation in the region.
DBK also continues to strengthen ties with international institutions within the framework of the energy transition. In particular, an agreement was signed with the Agence Française de Développement Group (AFD Group) on co-operation in renewable energy and energy efficiency in the agro-industrial sector for up to EUR 150 million.
In addition, the Bank, as a direct access entity, signed a Memorandum of Understanding with the Green Climate Fund aimed at developing co-operation under the Readiness Programme.
The implementation of these agreements reinforces Kazakhstan’s status as the principal driver of the green transformation in Central Asia. The scale of the investment attracted and the expansion of co-operation with leading international financial institutions confirm the high level of trust in DBK as a reliable financial operator. Such environmental initiatives are intended to form the foundation of a new economy in which technological progress goes hand in hand with responsibility towards future generations.
