Two major international financial institutions will allocate funds for the construction of the Rogun hydropower plant in Tajikistan. The total funding amount awarded by the World Bank and the Kuwait Fund for Arab Economic Development will be $750 million, the press office of the Ministry of Finance of Tajikistan reported.
The Kuwait Fund will allocate $100 million, which will be paid in tranches of $16.7 million. Minister of Finance of Tajikistan Fayziddin Kahhorzoda and Acting Director General of the Kuwait Fund Waleed Shimlon Al-Bahar signed the agreement.
The World Bank will allocate $650 million to the project in two stages through its division — the International Development Association. The first tranche of $350 million has been formalised as a grant following the signing of an agreement by the Minister of Finance of Tajikistan and World Bank Group Country Manager for Tajikistan Ozan Sevimli.
The 3,780 MW Rogun HPP project aims to modernise Tajikistan’s energy sector and provide the groundwork for new socio-economic projects.
