«Kazakhstan Housing Company» JSC (KHC) and the Eurasian Development Bank (EDB) signed a letter of mandate on the issue of social and green bonds at the Astana International Exchange (AIX) platform. The mandate letter within the Eurasian Congress framework was signed by Deputy Chairman of the EDB Management Board Amangeldy Isenov and Chairman of the «KHC» JSC Board Rustam Isaev.
In June 2021, Kazakhstan Housing Company JSC and EDB concluded loan agreements, under which EDB provided Kazakhstan Housing Company JSC with financing in Russian rubles for 5 years period to finance activities under the state program for providing population with affordable housing.
Within the framework of the signed document the Parties will consider the implementation of a new joint project – organization of the social bonds issue on the Astana International Exchange (AIX) site. The issuer of the issue will be «Kazakhstan Housing Company» JSC. EDB will act as an underwriter, financial advisor and investor.
Within the framework of this project, there is also planned active participation of «AIFC Green Finance Centre Ltd» as a consultant on international requirements in the field of social bonds. AIFC Green Finance Centre Ltd will also prepare an external review (assessment) in the Second Party Opinion form on the compliance of the Kazakhstan Housing Company JSC's policy in the field of social bonds with the Social Bonds Principles of the International Capital Markets Association.
Within the framework of the development of this direction, «KHC» JSC has developed a new strategy for sustainable development, and negotiations are also underway with the ADB (Asian Development Bank) on their participation on the KHC's green bonds initial issue.