AKIPRESS.COM - The Asian Development Bank and Almaty power plants signed about $219 million loan agreement on June 9.

The project will support modernization of Almaty-2 combined heat and power plant and its transition from coal burning to gas.

The Asian Development Bank has become the third financial partner of the modernization project. Agreements were signed with the European Bank for Reconstruction and Development and Kazakhstan Development Bank.

Signing of the loan agreement with ADB resolves entirely all issues with financing of the project. The combined heat and power plant will be switched over to use of natural gas and will refuse from coal as fuel.