World Bank to support new Kazakhstan loan for green energy
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The World Bank announced its readiness to support a new loan for Kazakhstan worth nearly 281 million euros. The funds are to be directed toward the construction of green energy facilities. The decision follows Kazakhstan's push to expand renewable energy capacity.
Loan Details
The World Bank has expressed readiness to back a new loan for Kazakhstan totaling 281 million euros. The funds are earmarked for the construction of green energy facilities, including solar and wind power plants. The loan is part of the bank's broader support for Kazakhstan's energy transition.
Green Energy Goals
Kazakhstan aims to increase the share of renewables in its energy mix to 15% by 2030 and 50% by 2050. The new loan will help finance projects that contribute to these targets. The country currently relies heavily on coal for electricity generation.
What's Next
The loan agreement is expected to be finalized in the coming months. It remains unclear whether the funds will be disbursed in a single tranche or in stages.
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World Bank to support new Kazakhstan loan for green energy
