EBRD and Shinhan Bank Upgrade Almaty’s Atakent Conference Hub

The European Bank for Reconstruction and Development (EBRD) and Shinhan Bank Kazakhstan are financing an ambitious upgrade of the Atakent Business Cooperation Centre in Almaty, to help Central Asia’s leading conference hub build world-class sports facilities. 

The EBRD on February 19th announced it will share half of the risk of a KZT 3bn ($6.6m) loan provided by SBK, a fully owned subsidiary of Shinhan Bank Korea, to Atakent under the risk-sharing agreement between the two banks. The first risk-sharing transaction between the EBRD and SBK will finance the construction of a new sports and health facility, which will allow the Atakent hub to host national and international sports events. 

The new sports complex will have a modern gym, various indoor and outdoor training facilities, two 25-metre swimming pools, and world-class arenas for a broad range of sport activities. The new facility will be open to professional athletes and the general public.

The building – the construction of which is being supported by a $172,200 grant under the EBRD’s Resource Efficiency Transformation Program, funded by the Global Environment Facility Special Fund – will meet class A international energy efficiency standards. The grant will help introduce energy-efficient solutions, including LED lighting, insulation, and modern heating and cooling equipment.