European bank finances Kazakhstani irrigation projects

Staff Report

ASTANA -- The London-based European Bank for Reconstruction and Development (EBRD) is helping upgrade Kazakhstani irrigation systems with a $180 million (56.9 billion KZT) financing package, the EBRD said in a Wednesday (May 10) statement.

EBRD and Kazakhstani officials signed the loan agreement in Cyprus. Kazakhstan is providing $21.4 million (6.8 billion KZT) of its own money on top of the $180 million.

The project is meant to "finance new water connections and water meters, and facilitate the use of modern drip-irrigation technologies" in Aktobe, Zhambyl and South Kazakhstan provinces, said the EBRD. Better water access in those provinces could create up to 40,000 jobs, added the EBRD.

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