DUSHANBE, August 16, 2011, Asia-Plus – Supervisory Board of the Rogun HPP public corporation is expected to consider the issue of “Rogun money” till this weekend, Tajik Ministry of Finance told the AP.
According to the source, 157mln Somoni, which were collected from sale of Rogun HPP shares and certificates, are currently deposited in five commercial banks of Tajikistan.
“The funds were deposited for one year period and, according to the contract, should be returned back today. Since all five banks have filed official requests asking to prolong the terms of deposits, they do not have to return the funds back as they are waiting for an official reply,” the source explained.
According to the source, banks used these funds for credits allocated to the real sector of economy and were really timely.
“Additionally, quick withdrawal of a huge amount of funds may impact bank’s liquidity,” the source added.
According to Tajik Ministry of Finance, the so-called “Rogun’s money” ($33.2mln), which were deposited by the state to deposit accounts in five Tajik banks, paid dividends worth 11.9mln Somoni ($2.5mln).
Major portion of the funds – 118.2mln Somoni, was deposited to Agroinvestbank, 20.3mln Somoni – to Tojiksodirotbank, 2.8mln to Tajikistan Development Bank, 11.1mln to Tajikprombank and 5mln Somoni to Fonon Bank.
According to the contract signed between commercial banks, Tajik Ministry of Finance and Rogun HPP, the funds were deposited for one year period with an interest rate not less than refinancing rate +1%.
When the contract was signed the refinancing rate was at the level of 8% and was raised in spring 2011 by the Tajik National Bank up to 9%.
Agroinvestbank and Fonon Bank have also requested additional funds from Rogun HPP, the two banks told the AP.
