/KASE, March 31, 2023/ – Development Bank of Kazakhstan JSC (Astana), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated March 30, 2023:

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Development Bank of Kazakhstan JSC (hereinafter – the Bank, DBK) has allocated a bond loan to the company for the management of electric networks of KEGOC JSC. The total amount of the loan is 10 billion tenge, the funds will be directed by the borrower to reconstruct high-voltage lines and strengthen the electric network of the western zone of the unified energy system (UES) of Kazakhstan.

"The project will increase the capacity and reliability of electricity supply to consumers in western regions of Kazakhstan. It will also help to reduce losses in the networks, thereby increasing the efficiency of the power system," comments Nurlan Baibazarov, Chairman of the DBK Board.

To finance the project, the Bank uses funds raised on the KASE exchange on March 29 from the placement of the debut green bonds. With these funds DBK bought green KEGOC bonds which were traded on the KASE on March 30, and the funds from their placement will go directly to finance the project. It should be noted this is the first DBK transaction structured in the form of a bond loan.

In addition to DBK, the European Bank for Reconstruction and Development participates in the project as a co-investor. This joint project shows the potential to attract foreign investment in the development of Kazakhstan's infrastructure.

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[2023-03-31]