Taraz Water Project
Based on a preliminary agreement between the European Bank for Reconstruction and Development and SCE “Taraz Su” as of 20 November 2015, there was signed the loan agreement No 42664 for the amount of KZT 1 050 000 000 to implement the Taraz Water Project (hereinafter the “Project”).
The Project is financed by the Government of the Republic of Kazakhstan that gifted KZT 945 000.0 thousand grant approved by the Governmental Resolution as of 28 June 2016, No 374 and is co-financed by the Taraz City Akimat that provided KZT 105 000.0 thousand grant approved by the Decision of Zhambyl Regional Maslikhat as of 04.07.2016, No 3-7. In addition, the EBRD attracted KZT 277 729.6 thousand grant as technical support for the Project implementation.
The loan agreement was approved by the Resolution as of 07.12.2015, No 301 of the Zhambyl Regional Akimat, approved by the Resolution of the Taraz City Akimat on 12.11.2015, and approved by the Decision of Zhambyl Regional Maslikhat as of 04.07.2016, No 45-4. The Project will be implemented for 2016 through 2018.
The Project value is KZT 2 377 729.6 thousand;
Financing:
The EBRD loan: KZT 1 050 000.0 thousand;
The grant gifted by the Government of the Republic of Kazakhstan is KZT 945 000.0 thousand;
The grant gifted by the Taraz City Akimat is KZT 105 000.0 thousand;
The technical assistance funds are for the amount of KZT 277 729.6 thousand.
The life of the loan is 13 years, including an exemption period of three years and the principal repayment period of 10 years. The loan currency is Kazakh Tenge, the interest rate is 4.7% + LIBOR.
The main objectives of the Project are the replacement of worn-out equipment, reduction of water losses, and improvement of the service quality.