DUSHANBE, September 27, 2010, Asia-Plus — International Finance Corporation (IFC) is considering the possibility of expanding cooperation with Tajikistan on a number of hydroelectricity projects, IFC’s Vice President for Asia, Eastern Europe, Middle East and North Africa, Rashad Kaldany, remarked at a news conference in Dushanbe on September 25.
According to him, during his stay in Tajikistan he held talks with Prime Minister Oqil Oqilov and visited the Pamir Energy Company (PamirEnergy) and open joint-stock company (OJSC) Sangtudinskaya GES-1, which operates the Sangtudia-1 hydroelectric power plant (HPP).
Tajik ministers finance as well as economic development and trade attended Kaldany’s discussions with Oqil Oqilov. “Mr. Oqilov briefed on the current economic situation in the country. He named electricity shortages during winter period as one of the main problems,” said the IFC vice president, “We also discussed issues related to cooperation between IFC and the Government of Tajikistan, in particular providing support to enhancement of agrarian sector and development of small and medium-sized enterprises in Tajikistan.”
Mr. Kaldany stressed that he was satisfied with the process of implementation of the PamirEnergy project.
We will recall that PamirEnergy is a joint project of the Government of Tajikistan, the Aga Khan Fund for Economic Development (AKFED), the World Bank’s private finance division, the International Finance Corporation (IFC), and the Swiss Agency for Development and Cooperation (SDC). A total cost of the project is some 26.5 million U.S. dollars, including the Tajik government’s contribution of 10 million U.S. dollars.
The company has a 25 year concession on the assets formerly under the management on Barqi Tojik (Tajik electricity supplier) in Gorno Badakhshan. In exchange for this concession (management right), PamirEnergy has invested in completing the Pamir hydropower station, rehabilitating power generation, transmission and distribution assets, and improving the management of the company.
Mr. Rashad Kaldany paid a three-day visit to Tajikistan on September 23-25 to hold talks with high-ranking Tajik state officials and review a number of IFC investment projects in Tajikistan.
