The Government of Tajikistan has instructed the Ministry of Finance to allocate 150 million somonis (US$13.7 million) to increase the authorized capital of the Open Joint Stock Company (OJSC) NBO Roghun.
According to a government decree published on the Justice Ministry’s legal information portal, this funding is provided from the Fund for Stabilization and Economic Development.
The document also instructs the authorities to adjust the 2025 republican budget financing plan, taking into account the allocation of additional funds.
It is worth noting that in 2024, OJSC NBO Roghun received approximately 280 million somonis (over US$25 million) from this Fund.
Contributions to the Fund for Stabilization and Economic Development reportedly come from the overperformance of revenue collection in the republican and local budgets. According to the 2024 state budget, 25% of such excess funds are allocated to the Fund.
According to the Ministry of Finance, around 2.4 billion somonis is planned to be allocated for the completion of the construction of the Roghun hydropower plant (HPP) in 2025 as part of financing state investment projects.
In his latest address to a joint meeting of both chambers of parliament, President Emomali Rahmon stated that the government is continuously taking measures to ensure the timely financing of this crucial strategic facility, utilizing all available sources.
"In this context, effective cooperation is being carried out with several international financial organizations and development partners to attract concessional funds amounting to 33 billion somonis (US$3 billion), including 12.5 billion somonis (US$1.15 billion) in grants," the address states.
It further emphasizes that agreements have been signed with six organizations for a total of 10 billion somonis (approximately US$1 billion) by the end of 2024, including 3.8 billion somonis in grants, with investments from these sources set to begin in 2025.
The address also highlights that over the past two years, more than 9 billion somonis (approximately US$830 million) have been allocated from the state budget for the completion of the construction of the Roghun HPP.
Tajikistan founded OJSC NBO Roghun with an authorized capital of 116 million somonis for completing the construction of the Roghun HPP in April 2008 after it formally revoked a contract with Russia's RusAl aluminum company for the construction of the Roghun HPP in August 2007.
To raise funds to complete the construction of the Roghun HPP the government started to sell shares in Roghun to people on January 6, 2010. Tajikistan has reportedly issued 6 billion somonis worth of 5 million Roghun shares.
