DUSHANBE, August 4, Asia-Plus — On July 31, the World Bank’s Board of Executive Directors approved an IDA credit of 4.5 million US dollars for additional financing of the Pamir Private Power Protect.
According to information posted on the World Bank’s website, the loan is provided for 40 years with a grace period of ten years.
The Pamir Private Power Project for Tajikistan aims to enhance the quality and improve the reliability of electricity supply in the Gorno Badakhshan Autonomous Region through private sector involvement in a financially, environmentally, and socially sustainable manner.
The additional financing will help cover the costs associated with a financing gap caused by the unexpected need to restore and repair equipment and facilities damaged by flooding at the Pamir-1 hydroelectric power plant (HPP) in the Gorno Badakhshan. It will also enable the project company Pamir Energy (PEC) to complete the original project scope by focusing on rehabilitation of plant infrastructure and provision of parts and equipment to ensure the plant’s long-term sustained operation and prevent further accidents.
The World Bank’s mission in Tajikistan is to promote economic growth, reduce poverty, and encourage a better quality of life. The country became a member of the World Bank on June 4, 1993. The World Bank’s overall mission in Tajikistan is to promote economic growth, reduce poverty, and encourage a better quality of life. The World Bank plays a role as the catalyst of change and an institution bringing global experience to developing countries.
