10 Jun 2024 19:44

AFESD could allocate $400 mln for Rogun hydroelectric power plant construction in Tajikistan

DUSHABNE. June 10 (Interfax) - The Arab Fund for Economic and Social Development (AFESD) plans to allocate $400 million for the construction of the Rogun hydroelectric power plant in Tajikistan.

"One of the projects under consideration by the parties is support for the construction of the Rogun hydroelectric power plant. The Islamic Development Bank has decided to sign an agreement with the Republic of Tajikistan's government. Also, as part of this cooperation, the Arab Development Fund will allocate another $400 million for this project," Tajikistan's national news agency Khovar quoted Muhammad Suleiman Al-Jasser, the IsDB president, as saying following a meeting with Tajik President Emomali Rahmon.

He said the IsDB had been working with Tajikistan for many years. Funding under this cooperation exceeded $900 million and includes more than 100 projects.

At the meeting, it was mentioned that funds allocated to Tajikistan by the Islamic Development Bank had been used for energy, education, industry, agriculture, transport and other areas of economic development.

The 3.6 GW Rogun HPP, which is being built on the Vakhsh River, will be the largest hydroelectric power plant in the region. It will consist of six 600 MW units. The first unit was put into operation in 2018 and the second in 2019.

Agreements were signed last year with the Saudi Fund for Development for $100 million and with the IsDB for $150 million to finance the Rogun HPP's construction.

At the end of last year, the Tajik Finance Ministry was quoted as saying that the government planned to allocate more than $456.3 million to continue the construction of the Rogun HPP in 2024.

The Arab Fund for Economic and Social Development, based in Kuwait, finances economic and social development in the public and private sector and has 21 countries as members.