20:41, 10 June 2014 | GMT +5
EBRD allocates $34 mln for modernization of street lighting in Almaty
ALMATY. KAZINFORM - Today Akim of the city of Almaty Akhmetzgan Yesimov has signed a loan agreement during the meeting with EBRD chairman Suma Chakrabarti.

The European Bank for Reconstruction and Development will issue USD 34 million loan for the implementation of the project for modernization of the street lighting in the city of Almaty. Akim Yesimov stressed that modernization of the city's street lighting will meet the principles of the green economy strategy of Kazakhstan. In addition, Akim noted the significant potential for collaboration with the EBRD in all sectors of the urban economy. EBRD chairman expressed readiness to continue cooperation with Almaty noting that the EBRD is pleased to support the project. The new energy-efficient technologies will reduce the city budget's money costs on maintenance of street lighting and electricity consumption by 30%.