ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of July 2, 2025 No. 499

About approval of Rules of release, placement, the address, servicing and repayment of the government "green" bonds

According to Item 6 of Article 139 of the Budget code of the Republic of Kazakhstan the Government of the Republic of Kazakhstan decides:

1. Approve the enclosed Rules of release, placement, the address, servicing and repayment of the government "green" bonds.

2. This resolution becomes effective after ten calendar days after day of its first official publication.

Approved by the Order of the Government of the Republic of Kazakhstan of July 2, 2025 No. 499

Rules of release, placement, address, servicing and repayment of the government "green" bonds

Chapter 1. General provisions

1. These rules of release, placement, the address, servicing and repayment of the government "green" bonds (further – Rules) are developed according to Item 6 of Article 139 of the Budget code of the Republic of Kazakhstan and determine procedure for release, placement, the address, servicing and repayment of the government "green" bonds.

2. In these rules the following concepts are used:

1) the International financial center "Astana" (further – the center) – the territory in city boundaries of Astana with precisely designated borders determined by the President of the Republic of Kazakhstan in which the particular legal regime in the financial sphere is effective;

2) the initiator – the administrators of the budget programs responsible for implementation of "green" projects;

3) rules of depositary – the internal document of depositary based on which the depositary performs servicing and the securities redemption;

4) "green" projects – the projects directed to increase in efficiency of use of the existing natural resources, decrease in level of negative impact on the environment, increase in energy efficiency, energy saving, mitigation of the consequences of climate change and adaptation to climate change determined on the basis of the approved classification (taxonomy) according to the ecological legislation of the Republic of Kazakhstan;

5) the interdepartmental working group on selection of "green" projects (further – working group) – advisory advisory body under authorized body on budget implementation which purpose is interagency coordination concerning selection of the government "green" bonds;

6) the framework programme on release of "green" bonds (Green Bond Framework (GBF) – the document determining general strategy and approaches of the issuer to release of the government "green" bonds according to the principles of "green" bonds by such key aspects as use of the means received from release of the government "green" bonds, assessment procedure and selection of "green" projects, management of means, the reporting on use of means, including the report on impact, and also receipt of external assessment (verification);

7) stock exchange – the professional participant of the security market created according to the legislation of the Republic of Kazakhstan, performing organizational and technical supply of the biddings by their direct carrying out with use of trade systems of this organizer of the biddings and also the legal entity registered according to the law in force of the center, performing organizational and technical supply of the biddings by financial instruments in the center;

8) depositary of stock exchange (further – depositary) – the professional participant of the security market of the Republic of Kazakhstan performing depository activity, and also the legal entity registered according to the law in force of the center, performing settlement depository activity and registration of security transactions in the territory of the center;

9) stock exchange rules – the internal document of stock exchange based on which the issuer performs placement of the government "green" bonds;

10) the government "green" bond – the government issued security certifying the rights of her holder concerning loan in which as the borrower the Government of the Republic of Kazakhstan for financing of the projects carried to "green" according to the ecological legislation of the Republic of Kazakhstan acts;

11) release of the government "green" bonds – the actions of the issuer directed to emergence of issued securities as object of the civil laws or set of certain securities, placement, the address and which repayment are performed in accordance with the terms of release of these issued securities;

12) the annual statement on the government "green" bonds – the integrated report developed by the issuer together with authorized body in the field of environmental protection, containing information on expenditure of the arrived means from release of the government "green" bonds and the reached effect (impact) of "green" projects;

13) the placement agent – the professional participant of the security market having the license for implementation of broker and dealer activities according to the law in force of the center and (or) within the legislation of the Republic of Kazakhstan, stock exchange rules and rendering services to the issuer on release, placement and the circulation of issued securities;

14) the act of the center – the written official document accepted by body of the center, governing the relations arising between members of the center and (or) bodies of the center and (or) their workers;

15) the registrar – the professional participant of the security market of the Republic of Kazakhstan performing maintaining system of registers of security holders and also the legal entity registered according to the law in force of the center, performing accounting of the government "green" bonds of the issuer and the rights of holders of the government "green" bonds according to rules of the registrar, and also terms of agreement imprisoned with the issuer;

16) rules of the registrar – the internal document of the registrar according to which the registrar performs maintaining system of registers of security holders, and also accounting of the government "green" bonds of the issuer and the rights on them;

17) external assessment (verification) – the procedure of evaluating and the analysis concerning use of means from placement of the government "green" bonds and confirmation of conformity of the government "green" bonds to crucial elements of the principles of green bonds;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info