KAZAKHSTAN ATTRACTS USD 400 MLN FROM EBRD FOR POWER GRIDS

ALMATY, June 6 (Itar-Tass) -- The Kazakh unified power system (KEGOC) has attracted 400 million dollars from the European Bank for Reconstruction and Development (EBRD) for upgrading electric power grids. A corresponding credit agreement was signed by the KEGOC and EBRD presidents at the council of foreign investors in Atyrau on Thursday. The funds are attracted for the second eight-year stage of upgrading Kazakhstan's electric power grids. Within its framework, it is planned to change and renew equipment at 55 substations, as well as build new electric power transmission lines. The credit agreement envisages unprecedented for Kazakhstan conditions for a commercial loan - - without security, long-term - - up to 15 years, with a privileged period - - up to four years. The EBRD provides 300 of 400 million dollars and commercial banks -- 100 million dollars.