The development arm of the European Investment Bank (EIB Global) is partnering with the state-owned Kazakhstan Housing Company to boost the construction of energy-efficient and sustainable homes in Kazakhstan.
EIB Vice-President Kyriacos Kakouris and Altay Kuzdibayev, chair of the management board of Kazakhstan Housing Company, signed a memorandum of understanding on May 29 for financing to build energy-efficient homes, reported EIB’s press service, The Caspian Post reports citing Kazakh media.
“We will work closely with Kazakhstan Housing Company to explore financing opportunities for housing projects that meet high energy-efficiency standards. The agreement reflects a commitment by the European Union and the bank to deepening our strategic partnership with central Asia. Contributing to the sustainable future of the region through initiatives like this one is a high priority for us,” said Kakouris.
This new accord is part of an initiative - FELICITY II Cities Advisory Facility - undertaken jointly by the EIB and German development agency Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). The initiative is supported by the International Climate Initiative (IKI) of the German Federal Ministry for Economic Affairs and Climate Action to promote low-carbon investments in countries in Eastern Europe and Central Asia.
“Improving people’s quality of life and developing a modern, comfortable urban environment are the key priorities of Kazakhstan Housing Company. Signing a memorandum with EIB Global is an important step in the implementation of long-term international cooperation initiatives that are in line with both national priorities and global climate challenges. We are confident that this partnership will contribute to the formation of a new standard of housing and the development of sustainable and energy efficient housing projects in Kazakhstan,” said Kuzdibayev.
The memorandum of understanding builds on the first EU-Central Asia summit held in April, when government leaders pledged to strengthen ties between the two regions. During the summit, EIB Global announced plans to expand its strategic investments in sustainable development across Central Asia.
GIZ, which was represented at today’s signing event, in cooperation with the German Energy Agency (dena), will offer technical assistance to the Kazakhstan Housing Company under FELICITY II.
“Cooperation between the EIB and Kazakhstan Housing Company creates a real opportunity to accelerate the low-carbon transformation of Kazakhstan’s building sector, which accounts for a third of the country’s energy use,” said GIZ Project Director André Fabian.
