Nuclear Power Plant Construction: National Bank Head Does Not Rule out Budget Financing

Kazakhstan must be ready to spend to have a trump card in the nuclear power plant construction negotiations, says Timur Suleimenov, the National Bank head, Orda.kz reports.

When asked whether the government had proposed using the National Fund to finance the nuclear power plant construction, Suleimenov said no.

Meanwhile, he emphasized the importance of this project and stressed the need to have a firm position in negotiations with potential investors.

It seems to me that the party negotiating with the consortium needs to have some trump cards. If we do not provide the technology, personnel or finances ourselves, then our negotiating leverage will be lower, Suleimenov expressed his point of view.

He, therefore, does not rule out potential partial financing by Kazakhstan:

I, frankly speaking, would not rule out that we will finance some part of it. That is, it is not like the investors themselves brought the money and fully financed it. I would not rule out that Kazakhstan will bring in some of the finances, maybe from the budget, added the head of the National Bank.

The government has not approached the National Bank on the matter.

If the government involves us in the matter of structuring financing, we will discuss it. They haven't proposed it yet, I think it's too early, concluded Suleimenov.

Original Author: Zhadra Zhulmukhametova