The European Bank for Reconstruction and Development (EBRD) is providing a 30 billion tenge (local currency equivalent of EUR 121M) to Kazakhstan’s national rail company, Kazakhstan Temir Zholy (KTZ), to finance the purchase of equipment for logistics and infrastructure maintenance. The project will serve the main priorities for KTZ, to increase Kazakhstan’s transit potential and also to strengthen the security of passenger rail transportation.
“This loan will significantly reduce KTZ’s foreign currency risk. It is particularly significant for the EBRD as it is the first large local currency loan by the Bank under the new local currency facilities granted by the National Bank of Kazakhstan,” said Janet Heckman, EBRD Director for Kazakhstan.
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