The Minister of Economic Development and Trade of Tajikistan, Zavqi Zavqizoda, heading an official delegation, met with the Director-General of the Kuwait Fund for Arab Economic Development (KFAED), Waleed Al-Bahar, in Kuwait on February 3.
The Ministry of Economic Development of Tajikistan (MoEDT)’s official website says Zavqizoda expressed gratitude to the Kuwait Fund’s leadership for its continuous support and valuable contribution to the country’s infrastructure development.
He reportedly also specifically highlighted the financing of the construction of the Roghun hydropower plant (HPP), which plays a key role in strengthening Tajikistan’s energy security.
According to the MoEDT’s press center, the Kuwait Fund has allocated approximately US$200 million for financing projects being implemented in Tajikistan’s transport, energy, and infrastructure sectors.
Earlier, it was reported that the Kuwait Fund would provide a US$100 million loan package for the construction of the Roghun HPP.
The corresponding agreement was reportedly signed in Dushanbe by Tajikistan’s Minister of Finance, Faiziddin Qahhorzoda, and KFAED Director-General, Waleed Shimlan Al-Bahar.
The funds will be disbursed in stages under six separate agreements, each worth US$16.7 million, the MoEDT’s official website says. .
Meanwhile, Kuwait’s KUNA reported on December 18, 2024 that a loan agreement for KD 5.2 million (estimated US$16.9 million) has been signed on December 18, 2024. The amount of this loan is allocated to contribute to the Roghun HPP project.
KFAED noted that that this is the sixth loan provided by them to Tajikistan after financing five projects in vital sectors such as road development and water network improvement with a total of 24.9 million dinars (about 80.9 million dollars).
The Kuwait Fund for Arab Economic Development (KFAED), commonly known as the Kuwait Fund, is the State of Kuwait’s agency for the provision and administration of financial and technical assistance to developing countries.
Founded in December 1961, the Kuwait Fund is the first aid agency in the world to be established by a developing country.
