Alatau Zharyk Grid Reinforcement (EBRD-56504)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Kazakhstan
Geographic location where the impacts of the investment may be experienced.
Specific Location
Almaty, Alatau
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 22, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Alatau Zharyk Company
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 222.28 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 105000
Converted using 2026-05-22 exchange rate.
Loan Amount (USD)
$ 222.28 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 105000
Converted using 2026-05-22 exchange rate.
Project Cost (USD)
$ 222.28 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 105000
Converted using 2026-05-22 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 28, 2026

Disclosed by Bank May 22, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EBRD, the project consists of the provision of a senior loan of up to KZT 105 billion to JSC Alatau Zharyk Company (AZhC) to finance the company's 2026-2028 investment programme. The project encompasses the construction and modernisation of distribution lines and substations with voltages levels of 35-110 kV, the reconstruction of low-voltage 0.4-10kV distribution lines, the installation of smart metering equipment and smart grid technology.

The primary objective of the project is to modernise AZhC's transmission and distribution infrastructure in the Almaty city and the broader Almaty region to support growing electricity demand.

The project is expected to reduce the physical wear of the company's assets from the current level of 84 per cent, thereby lowering electricity losses and strengthening grid reliability, operational efficiency, and the climate resilience of the company's distribution infrastructure.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EBRD, Alatau Zharyk Company is a major electricity transmission and distribution utility serving the largest city of Kazakhstan, Almaty, and the wider Almaty region, supplying power to approximately four million people and 50,000 commercial consumers. The company is 100 per cent owned by Samruk-Energy JSC, the largest diversified electric power holding company under the Sovereign Wealth Fund Samruk Kazyna.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
JSC "SWF Samruk-Kazyna" (SKKZ) Parent Company Finance owns SAMRUK-ENERGY JSC Parent Company Energy
SAMRUK-ENERGY JSC Parent Company Energy owns Alatau Zharyk Company Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Alatau Zharyk Company:

Mr A. Slambekov
Email: aslambekov@azhk.kz 
Phone: +7 (727) 376-17-10
Website: https://www.azhk.kz/ru/ 
Address: 24b Manas Street Almaty 050008 Kazakhstan

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html

How it works

How it works