Tajikistan and the Islamic Development Bank (IsDB) have signed the financing agreement for the construction of the Roghun hydropower plant, says the press center of the Ministry of Economic Development and Trade of Tajikistan (MoEDT).
Recall, the IsDB Board has approved 150 million US dollars for the Roghun hydropower plant project (HPP) in Tajikistan. A statement released by the IsDB on April 27 says the funds will be spent for the construction of the Roghun HPP’s Lot-4 (left bank structures).
According to the MoEDT press center, these funds together with the agreed funds from Arab development funds amount to US$550 million
The document was inked on June 10https://medt.tj/tj/news/novosti-ministerstva-ekonomiki/3015-dar-oshiyai-vokh-rii-prezidenti-um-urii-to-ikiston-peshvoi-millat-mu-taram-emomal-ra-mon-bo-prezidenti-gur-i-bonki-islomii-rushd-sozishnoma-oid-ba-tatbi-i-sokhtmoni-nbo-ro-un-ba-mabla-i-150-million-dollar-ba-imzo-rasonida-shud-ki-yak-o-bo-mabla-oi-amo-ang on the sidelines of a meeting of Tajik President Emomali Rahmon with Dr. Muhammad Sulaiman Al Jasser, President of the Islamic Development Bank.
The meeting was also attended by the Minister of Economic Development and Trade of Tajikistan, Zavqi Zavqizoda, the Minister of Finance of Tajikistan, Fayziddin Qahhorzoda, and IsDB Country Director for Tajikistan.
It was noted that out of the total funding for the construction of the Roghun hydropower Plant, US$150 million will be allocated from the Islamic Development Bank's own funds, and the remaining US$400 million will come from Arab development funds.
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.
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, IsDB has provided 916 million US dollars for implementation of priority projects, with 237 million US dollars being provided for implementation of a series of projects in energy, transport, agrarian, educational and healthcare sectors.
