The Islamic Development Bank (IsDB) will provide US$150 million to Tajikistan for completion of construction of Roghun hydropower plant, the Minister of Economic Development and Trade, Zavqi Zavqizoda, told reporters in Dushanbe on February 14.
According to him, during his meeting with IsDB vice-president that took place on February 7, an agreement was reached on providing 250 million U.S. dollars to Tajikistan.
Of this amount, 150 million U.S. dollars will be channeled to completion of the construction of the Roghun hydropower plant.
As part of his visit to Tajikistan, Mr. Muhtar reportedly also got acquainted with the progress of construction of the Roghun hydropower plant.
Tajik minister added that they are currently carrying out the preliminary work on elaborating an appropriate draft agreement.
It is to be noted that during the period of Tajikistan’s independence, the Islamic Development Bank has financed a number of significant projects in the country; a total amount of them is more than 620 million U.S. dollars.
Tajikistan joined the Islamic Development Bank on November 27, 1996 and has a capital subscription of ID 18.2 million (0.04% of total IsDB subscribed capital).
The IsDB supports implementation of investment projects in education, healthcare, energy, transportation, agrarian and other priority socioeconomic sectors of Tajikistan. To-date, the IsDB has reportedly accepted 86 investment projects in a total amount of 641 million USD, and US$286 million worth of 23 projects have been implemented in various sectors of Tajikistan’s economy so far.
The Islamic Development Bank is a multilateral development finance institution that is focused on Islamic finance for infrastructure development and located in Jeddah, Saudi Arabia. There are 57 shareholding member states with the largest single shareholder being Saudi Arabia.
