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EBRD loan to help improve the collection and safe disdposal of waste in Almaty
The European Bank for Reconstruction and Development (EBRD) is providing a US$ 20 million loan to the City of Almaty to finance improvements in the collection and safe disposal of municipal waste. With the loan the city will purchase new waste-collection and transfer equipment and upgrade its waste-disposal site to comply with international environmental standards. The project will also provide technical assistance to the city to overhaul the institutional and regulatory framework relating to waste-management services.
"This project will have important public health and environmental benefits, and introduce new solid-waste management standards," Country Director Mike Davey of the EBRD said at the signing ceremony in Almaty.
Mr. Davey added that the loan will be the EBRD’s first to a local government in Central Asia that is extended without a state guarantee. "It is an important pilot transaction, which contributes to the development of municipal finance in Kazakhstan," he said. "The project will also provide help for Almaty to enhance the efficiency of its financial management, which will facilitate its access to the emerging municipal financing markets."
The Akim of Almaty, Victor Khrapunov, said: "The loan will help the city in its aims to constantly provide better services to our citizens. We are pleased to be the first city in Kazakhstan to receive a loan from the EBRD. It shows trust in our financial policies." Mr. Khrapunov added: "I see this operation as one step in a long-term partnership between the City of Almaty and the EBRD." Earlier this year, the EBRD signed a loan agreement with Almaty’s water utility company.
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