Almaty: Russia may allocate a loan covering 85% of the total cost to finance the construction of the first Nuclear Power Plant to be built in Kazakhstan, said Almasadam Satkaliyev, head of Kazakhstan's Atomic Energy Agency, TASS reports.

According to Azeri-Press News Agency, Satkaliyev confirmed that there will be no issue with financing the plant. A formula has been established that involves an interstate loan from the Russian Federation to the government of the Republic of Kazakhstan. Intergovernmental agreements are currently being prepared for the construction of the 'Balkhash' Nuclear Power Plant, which is a joint project with Russia's Rosatom company.

Satkaliyev explained that the first agreement is focused on the construction of the nuclear power plant, while the second agreement involves financing provided by Russia. The financial arrangement includes covering 85% of the costs through a loan from Russia and the remaining 15% by the government of the Republic of Kazakhstan. These documents are in an advanced stage of preparation, indicating significant progress in the project's development.