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Project Araltuz



Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

31 May 2023



PSD disclosed:

16 Jun 2023

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project Description

The provision of a convertible loan facility of US$ equivalent of KZT 5.5 billion to a parent company of Araltuz JSC (Araltuz), to be established under the jurisdiction of Astana International Financial Centre (AIFC). 

Project Objectives

The Bank's financing will be used towards Araltuz's investment programme aiming at introduction of new products and sales diversification to new markets.

Transition Impact

ETI score: 68

Primary Quality: Integrated

The project will support expansion of the Company's exports to new markets as a result of implementation of the CAPEX programme, which will expand the Company's product range towards value-added products.

Secondary Quality: Well-governed

The Project will support the Company in improvement of its corporate governance via implementation of a Corporate Governance Action Plan ("CGAP"), which entails integration of the Company's broader environmental and social matters into its governance and decision-making processes.

Client Information


Araltuz is a leading producer of table and technical salt in Central Asia

EBRD Finance Summary

USD 12,188,000.00

Total Project Cost

USD 41,088,000.00


Additionality sources

Financing Structure. The Bank offers to structure the Project in the form of a convertible loan, a product which is not readily available from other banks in Kazakhstan. The Bank's financing is critical for the Project to materialise, so the Bank's participation is highly additional.

Standard-setting. The CGAP developed with the help of an external consultant engaged by the Bank was agreed with the client and all CG issues identified by the consultants were addressed in CGAP. Additionally, the Company will aim to enhance its board of directors and board committees with a mix of skills, qualifications, expertise and gender balance that allows the board to address key challenges, risks and opportunities, including ESG and climate-related risks and opportunities. The Company has committed to promote equal opportunities for women and men by addressing gender gaps as part of CGAP and increasing the number of women among the Company's board members.

Knowledge, innovation, and capacity building. EBRD provides support to the Company in developing relevant internal policies, which are required for proper implementation of CGAP by the Company.

Environmental and Social Summary

Categorised B (2019).  The independent ESDD was conducted in 2021 and consisted of the review of the Company's policies and operational standards, including a site visit. The ESDD identified that a national EIA will be commissioned for the new plant construction once the Detailed Design is completed, and the process technology is identified.  The Company will need to ensure that the selected process technology meets the requirements of the Best Available Technologies for the sector.  Araltuz' current performance is compliant with Kazakhstan's national environmental and health and safety regulations although Araltuz will aim to further improve its EHS practices. The Company has certified Quality Management and Food Safety Management systems and will aim to establish environmental, health and safety management systems.  The ESDD identified certain specific areas that Araltuz will aim to improve with due regard to environmental issues including certain infrastructure and facilities. The Company has a Community Liaison Officer and provides financial aid to local municipality; it will need to further streamline its stakeholder identification and engagement activities through the implementation of the Stakeholder Engagement Plan.  The ESAP for identified risks and impacts has been agreed with the Company.

Technical Cooperation and Grant Financing

TC: The Company will benefit from TC support of up to € 150,000 for the implementation of the Corporate Governance Action Plan and Climate Governance Action Plan, drawing on funding secured from EBRD's Special Shareholder Fund ("SSF") and a dedicated CCG Facility. 20 per cent of costs to be covered by the Company.

Company Contact Information

Assel Bakirova
+7 (727) 364-56-20
050026, Kazakhstan, Almaty, Zhumaliyev str. 112

PSD last updated

16 Jun 2023

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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