On May 29, as part of the Astana International Forum, a Memorandum of Understanding was signed between the European Investment Bank (EIB Global) and a subsidiary of Baiterek NMH JSC – Kazakhstan Housing Company JSC (KHC) under the participation of Rustam Karagoishin, the Chairman of the Management Board of the Holding Company.

The document provides for potential financing to the desired extent in priority energy efficiency areas and for regular consultations between both entities on proposed new initiatives, financing structures and large-scale projects or programs.

The agreement was signed in Astana by Altay Kuzdibayev, the Chairman of the Management Board of Kazakhstan Housing Company JSC, and Kyriacos Kakouris, the Vice President of the European Investment Bank.

“We intend to work closely with the Kazakhstan Housing Company to explore opportunities to finance projects that meet high energy efficiency standards,” said Kyriacos Kakouris, the EIB Vice President. – “This agreement reflects the commitment of the European Union and the Bank to strengthen the strategic partnership with Central Asia and contribute to a sustainable future for the region”.

The cooperation is implemented under the FELICITY II program administered by EIB Global together with the German Society for International Cooperation (GIZ). The initiative is supported by the International Climate Initiative (IKI) of the German Federal Ministry for Economic Affairs and Climate Change to support low-carbon investments in Eastern Europe and Central Asia countries.

“The cooperation between the EIB and the Kazakhstan Housing Company creates a real opportunity to accelerate the low-carbon transformation of Kazakhstan’s construction sector, which accounts for a third of the country’s energy consumption,” said Andre Fabian, the GIZ Project Director. – It will also stimulate the energy efficient construction market and promote the introduction of innovative technologies and services”

GIZ took part in the signing ceremony and will provide technical support to Kazakhstan Housing Company in the development and preparation of projects for financing.

“Improving the people’s quality of life and developing a modern, comfortable urban environment are the priority tasks of Kazakhstan Housing Company. Signing a memorandum with EIB Global is an important step in the implementation of long-term international cooperation initiatives that are in line with both national priorities and global climate challenges. We are confident that this partnership will contribute to the formation of a new standard of housing and the development of sustainable and energy-efficient housing projects in Kazakhstan” – said Altay Kuzdibayev, the Chairman of the Management Board of Kazakhstan Housing Company JSC.

It should be noted that the Memorandum was a logical continuation of the agreements reached during the first EU-Central Asia Summit held in April 2025 where the parties declared their intention to strengthen interconnections and work together on sustainable solutions.

Press Service
Kazakhstan Housing Company JSC
+7 7172 797575, int. 2550
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