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This project is intended to help the Government of Kazakhstan (GoK) implement crucial policy reforms to support the country's transition to a greener economy.
The proposed Program supports the Government of Kazakhstan (GoK)'s reforms aimed at (i) facilitating a cleaner energy transition through developing small-scale distributed renewable energy, (ii) improving financial sustainability in electricity by enacting systematic electricity tariff adjustments in line with a new incentive-based methodology to achieve full cost recovery levels, (iii) reducing fossil-fuel subsidies in heating through tariff reforms, (iv) promoting energy efficiency to reduce the carbon footprint of the economy by implementing more stringent energy efficiency norms for the highest energy-intensive industrial enterprises, and (v) strengthening emissions monitoring, reporting and verification to help meet the NDC. The Program will be co-financed in parallel with the World Bank (WB), as the lead financier. The Program is aligned with the goals of the Low Emissions Development Strategy (LEDS) of the Republic of Kazakhstan, which was adopted in February 2023 and aims to reduce greenhouse gas (GHG) emissions by 15 percent by 2030 and attain carbon neutrality by 2060, and the updated 2023 NDCs.
The Ministry of Finance of the Republic of Kazakhstan is the main executing agency and is coordinating the implementation of all policy actions supported by this operation with respective line ministries.
According to the AIIB, the World Bank will invest USD 600 million in the project.
Client - Government of Kazakhstan:
Madi Takiyev - Minister of Finance of the Republic of Kazakhstan
Email: info@kgd.gov.kz
AIIB Team Leader:
Emil Zalinyan - Senior Investment Officer
Email: emil.zalinyan@aiib.org
World Bank Team Leader:
Natasha Sharma - Senior Economist
Email: nsharma9@worldbank.org
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html
ACCOUNTABILITY MECHANISM OF AIIB
The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html
The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html