Subsidiary Bank Sberbank of Russia supports environmental project “Sustainable Cities for Low-Carbon Development” implemented in Kyzylorda

15.10.19 11:49
/KASE, October 15, 2019/ – Subsidiary Bank Sberbank of Russia (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided the KASE with the following press release dated October 15, 2019: quote Sberbank Kazakhstan and Damu Fund have supported an environmental project aimed at developing and implementing low-carbon programs in the infrastructure of the city of Kyzylorda in order to significantly reduce greenhouse gas emissions under Sustainable Cities for Low-Carbon Development UNDP-GEF program. This important project is to be implemented by SMP Kyzylorda LLP. The company entered into an agreement on the project “Modernization and Maintenance of Boiler Houses” in the framework of which the company took responsibility for the modernization of heating systems of seven secondary schools, as well as House of Schoolchildren and Arman House of Culture in Shieli district of Kyzylorda region. “Having come a long way, our company has gradually turned into a stable and successful enterprise with a rich history of formation and development in construction industry. At the end of last year, we entered into the Public-Private Partnership Agreement on the project “Modernization and Maintenance of Boiler Houses in Public Institutions of the City of Kyzylorda”. We have decided to get additional financing for the successful implementation of this environmental project”, - Temirkhan Alimkulov, Director of SMP Kyzylorda LLP, said. Employees of Kyzylorda Branch of Damu Fund offered the company the opportunity to receive subsidies under the joint project “Sustainable Cities for Low-Carbon Development” of UNDP-GEF, the Government of the Republic of Kazakhstan and Damu Fund. In order to implement the project, the company applied to Sberbank Kazakhstan where the presented business idea received the necessary financial support in the amount of 130 million tenge. Thanks to concessional lending, the company brought boiler plants of social infrastructure facilities in line with environmental safety requirements and improved the technical and operational status of equipment by transfer it to the use of environmentally straight natural gas. “Sustainable Cities for Low Carbon Development program allows us to proceed to a completely different model of urban development. The phased implementation of the program will significantly reduce the pollution of the atmosphere of our city with carbon dioxide and other greenhouse gases. And we are glad that we have made our feasible contribution to improving the environmental situation of Kyzylorda region”, - Kayrat Dzhusarub, Director of Kyzylorda Branch of SB Sberbank JSC, said. unquote [2019-10-15]