30 bln. KZT facility agreement between Samruk-Energy and ADB

Today, facility agreements for a total amount of 80 million USD were signed between “Samruk-Energy” JSC and the Asian Development Bank (ADB) in Astana

30 bln. KZT facility agreement between Samruk-Energy and ADB

Today, facility agreements for a total amount of 80 million USD were signed between “Samruk-Energy” JSC and the Asian Development Bank (ADB) in Astana. The loan is provided in tenge, which corresponds to about 30 billion.

An important deal, which was made by Samruk-Energy as part of optimizing its loan portfolio, officially consolidated the long-term and strong partnership between the largest Kazakhstan energy holding company and a highly reputable international financial institution for development. For ADB, agreements with Samruk-Energy are the first and unique experience in the Republic of Kazakhstan, since loans are provided in local currency. The funds will be allocated for general corporate purposes, enhancement of efficiency and improvement of financial performance.

The solemn signing ceremony was held with the participation of Bakitzhan Zhulamanov, Chairman of the Board of “Samruk-Energy” JSC, Shantanu Chakraborty, Director of Infrastructure Finance Division of ADB for Central, South and West Asia as well as Beibit Karymsakov, Managing Director for Economy and Finance of “Samruk-Kazyna” Sovereign Wealth Fund” JSC.

According to Bakitzhan Zhulamanov, raising debt funds from the largest development institute represented by ADB will serve as an impetus for development and strengthening of “Samruk-Energy” JSC investor base, and, in general, is an indicator of a high level of trust on the part of the bank and the market, as well as confirmation of Samruk-Energy’s strict adherence to requirements of international financial organizations.

In turn, the representative of the ADB noted that the course of development, which Samruk-Energy follows, is consistent in almost all areas with the new strategy of the ADB until 2030. “Moreover, the ADB's country partnership strategy for the Republic of Kazakhstan, which was approved last year, provides for the promotion of sustainable growth as one of its priorities, including through the provision of non-sovereign funding. As regards the activities of the ADB Department of Operations in private sector, we intend to significantly expand areas of operations in Kazakhstan and currently work on three RE projects”, - said Mr. Chakraborty.

“Samruk-Energy” JSC is the largest power holding company in Kazakhstan, 100% owned by “Samruk-Kazyna” SWF JSC. It was established in 2007. Core business: electricity and heat production; transmission, distribution and sale of electricity, power coal mining. The holding company comprises energy and coal enterprises, including “Ekibastuz SDPP-1” LLP, “Ekibastuz SDPP-2 Plant” JSC, “Bogatyr Komir” LLP, “Almaty Power Plants” JSC, “Moynak Hydropower Plant named after U.D. Kantayev” JSC, “Shardarinsk HPP” JSC, etc.

The Asian Development Bank is an international financial institution committed to achieving a prosperous, integrated, resilient, and sustainable Asia-Pacific region. Shareholders of the bank, which was established in 1966, are 67 countries, 48 ​​of which are located in the region. In 2017, the total amount of ADB operations was 32.2 billion US dollars, including 11.9 billion US dollars in co-financing.

“Samruk-Kazyna” Sovereign Wealth Fund” JSC is a Fund whose sole shareholder is the Government of the Republic of Kazakhstan. The Fund was established in 2008 by the Decree of the President of the Republic of Kazakhstan and is a commercial structure - an investment holding company, mission of which is to improve the national well-being of the Republic of Kazakhstan and ensure long-term sustainability for future generations. “Samruk-Kazyna” Fund fulfills its mission through the achievement of strategic goals and four strategic initiatives, such as improving the profitability of companies, optimizing the structure of the portfolio, diversifying income and corporate governance and sustainable development. The assets of the Fund are about 74.1 billion US dollars. “Samruk-Kazyna” JSC group of companies includes enterprises of the oil and gas and transport and logistics sectors, chemical and nuclear, mining and metallurgical, power industries.

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