IDA allocates $350mln to Tajikistan for Rogun HPP construction

The Republic of Tajikistan and the International Development Association signed a financial agreement worth $350,000,000 in the form of grant funds for the implementation ofthe «Sustainable Financing for the Rogun HPP Project»  program, Khovar reported. 

The document was signed Dec 19 at the Tajik Ministry of Finance.

The agreement was signed by the Minister of Finance of Tajikistan Fayziddin Qahhorzoda and the World Bank Group Country Manager Ozan Sevimli.

It should be noted that the amount of financing provided by the International Development Association is $650,000,000, which will be allocated in 2 phases under separate agreements.

The project is aimed at strengthening Tajikistan's energy independence of Tajikistan and promoting sustainable economic development. It will create a solid foundation for ensuring access to reliable and renewable electricity, meeting growing domestic demand and creating conditions for expanding the export potential of green energy on a regional scale.

Earlier, it was reported that Tajikistan’s National Bank and Central Bank of UAE signed cooperation document.