Tajikistan has ratified an agreement with the World Bank on financing the Power Utility Financial Recovery Project.
The Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament) yesterday voted for ratification of the agreement on the Power Utility Financial Recovery Project that was signed between the Government of Tajikistan and the International Development Association (IDA), the part of the World Bank, in May this year.
Presenting the agreement to lawmakers, the Minister of Energy and Water Resources, Usmonali Usmonzoda, said that the World Bank would award a US$134 million grant for that project aiming at ensuring the viability and efficiency of Tajikistan’s power sector.
According to him, the implementation of the project will begin this year and will be completed in 2026.
Recall, the World Bank’s Board of Executive Directors approved $134 million in grant financing from the International Development Association for the Power Utility Financial Recovery Project on February 25, 2020.
The Power Utility Financial Recovery Project aims at increasing financial viability, improving efficiency, and contributing to better governance of the state power utility Barqi Tojik. The company owns and operates most of the electricity generating plants and is responsible for electricity transmission, dispatch, and distribution services to around nine million people, covering all but one regions of the country. The results to be supported by the project cover three broad areas: 1) ensuring Barqi Tojik’s financial viability; 2) ability to provide universal and reliable electricity supply; and 3) good governance and transparency.
