EBRD provided a loan to Almatyelektrotrans KGP in amount of $ 10 million

/IRBIS, November 12, 09/ - The European Bank for Reconstruction and Development provided a loan in amount of $ 10 million to municipal enterprise Almaty - KGP Almatyelektrotrans, stated in a press release speared by the EBRD. $ 10-million loan to Almatyelektrotrans (AET) is the first Bank loan to the municipal enterprise in Kazakhstan, designed to finance the modernization of traction substations and Electric Network in Almaty. This project will allow AET to reduce operating costs and energy consumption, will improve the quality and reliability of public transport services, it was stated in the message. Almatyelektrotrans operates two tram and nine trolleybus lines, total route length of which is respectively 65 km and 207 km, and which serve about 30 m. passengers in a year. In addition, to the bank loans provided funds and technical assistance intended for the restructuring and commercialization of Almatyelektrotrans, as well as to develop a contract for the provision of public services, which will improve the provision of public services. In addition, grant funds will provided to facilitate the municipality of Almaty for development of a feasibility study to upgrade the tram network in context of a public-private partnership. Grant-technical assistance grants amounting over 900.0 thousand euros, provided by the Governments of Germany, the Netherlands, Austria and Singapore. [2009-11-12]