Development Bank of Kazakhstan to issue $15m green bonds

The funds from the bonds will be used for a renewable energy project.

The Development Bank of Kazakhstan JSC will be launching green bonds worth $15m on the Astana International Exchange, which proceeds will be used to fund a renewable energy project.

In a statement, the bank said the auction is targeted in December.

The interest rate on securities, meanwhile, will be determined based on the results of the trading on the exchange, it said.

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“DBK, in turn, consistently promotes ESG principles in its work, focusing on expanding sustainable financing of projects, increasing the share of “green” generation in the energy system and supporting environmentally friendly production in Kazakhstan,” it said.