The Eurasian Development Bank (EDB) has announced its intention to purchase sustainability-linked (SLB) bonds to be issued by the Almaty Electric stations JSC (AlES), a subsidiary of Samruk-Energo JSC, the largest electric power holding in Kazakhstan, to finance the reconstruction of Almaty СHPP-3, under the KZT 236.8 billion ESG Bond Programme on AIX.
In addition to EDB, acting as the anchor investor, other development institutions and second-tier banks are entitled to participate in the project.
It is expected the AlES SLB bonds to become the largest issuance of sustainable development bonds in Central Asia, and the successful implementation of the project shall contribute to the greater efficiency of Almaty city’s energy system and improvement of the environmental conditions in the area.
Assel Mukazhanova, CEO of the AIX, said:
"In recent years investors all over the world have become more focused on ESG criteria in making investment decisions. As a result, to address that many businesses have begun to integrate ESG into their operations and business strategies. AIX is pleased to be in line with the trend providing an opportunity to invest in the sustainable development through the line of products available.”
The ESG Bond Programme for issuance of sustainable development bonds of AlES has been supported by the AIFC Green Finance Center, which provided the required independent advisory opinion evidencing the terms of bonds are in full compliance with the principles of sustainable development bonds (Second Party Opinion).
Daniyar Kelbetov, Chairman of the Board of the AIFC Green Finance Centre commented:
“AIFC is committed to introducing innovative financial instruments to attract investment in ESG projects, such as Sustainability-linked bonds. We are pleased that today Kazakhstan is the first country in Central Asia to launch a market for these bonds, which contribute to the achievement of global carbon footprint reduction targets."
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, the Shanghai stock exchange, the Silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English Law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. www.aix.kz
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan's economy. https://aifc.kz/