UNDP and VTB Bank (Kazakhstan) will finance the projects, aimed at environmental improvement of the country


VTB Bank (Kazakhstan) became a participant of the project “Sustainable cities for low-carbon development on Kazakhstan”, implemented by the United Nations Development Program together with the Ministry of investments and development of the Republic of Kazakhstan (hereinafter – UNDP-GEF Project). The Project is intended to promote the growth of investments to the energy efficiency of the city infrastructure.

- Protection of environment is a duty of any citizen of the planet, longing for happy and healthy future for his children. VTB Group assumes responsibility for the economic, social and ecological implications of its activity and strives to contribute to the sustainable social development. Subsidiary bank in Kazakhstan always supports socially essential initiatives as well, and this time we couldn’t stand back, - the Chairman of Board of VTB Bank (Kazakhstan), Dmitry Zabello, noted. – Now the clients of our bank, which implement the projects in the area of energy saving and greenhouse gas reduction, will be able to obtain a loan in our bank, with the approval of subsidies from Damu Fund JSC within the UNDP-GEF Project, thereby easing the debt burden.

Indeed, financing with the support in the shape of subsidizing and guaranteeing within the UNDP-GEF Project, will be more beneficial than general credit accommodation. According to the terms of UNDP-GEF Project, application for the drawdown may be sent by the object owners, or energy service companies, which plan to contribute the funds to the development of energy efficiency of the city infrastructure. This means improvement of municipal heat- and water supply, public facilities, municipal treatment facilities and lighting.

You can use the subsidizing and guaranteeing within the UNDP-GEF Project, for example, to renovate the equipment of boiler rooms or to upgrade the heating systems in the multistorey buildings, or to replace the lighting, both internal and external and etc. According to the terms of the project, the loan limit should not exceed 130.8 mln tenge, remuneration rate for the credit may not be more than 19%, herewith subsidizing is 10% per annum.

Subsidiary VTB Bank JSC (Kazakhstan) is member of VTB international financial group. The Bank has successfully worked more than 9 years in the financial market of Kazakhstan. To date, Subsidiary VTB Bank JSC (Kazakhstan) has a branch network, consisting of 38 structural subdivisions, 17 of which are branches. According to S&P Global Ratings, VTB (Kazakhstan) has one of the highest credit ratings among all second-tier banks of Kazakhstan. The Bank's Central Office is located in Almaty. The license of the National Bank of the Republic of Kazakhstan No.1.2.14/39 dated December 23, 2014.

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Arina Pirogova

Subsidiary VTB Bank JSC (Kazakhstan)

Tel: 8 (727) 330 59 20 int. 59 20

e-mail: A.Pirogova@vtb-bank.kz

web: www.vtb-bank.kz