The Islamic Development Bank (IsDB) has expressed readiness to increase its financial support for the construction of the Rogun Hydropower Plant — the largest energy project in Central Asia — as well as other key sectors of Tajikistan's economy. The commitment was made during a meeting between Tajikistan’s Minister of Economic Development and Trade, Zavqi Zavqizoda, and IsDB President Muhammad Sulaiman Al Jasser on the sidelines of the bank’s annual meeting in Algiers.
According to the ministry’s press service, Zavqizoda requested additional funding for the development of green energy, with a particular emphasis on the Rogun project. He also appealed for support in building roads, schools, and logistics hubs; developing irrigation systems, the textile industry, halal product manufacturing, trade and tourism; strengthening the banking sector and export potential; boosting the private sector; and addressing the impacts of climate change.
In response, the IsDB president affirmed the bank’s willingness to scale up investments in these areas and deepen cooperation going forward. Both sides also agreed to continue implementing the 2023–2026 partnership strategy between Tajikistan and the bank.
The Islamic Development Bank, established in 1973, is a multilateral financial institution that Tajikistan joined in 1996. Since then, the IsDB Group has invested more than $916 million in the country’s economy, according to the Tajik Ministry of Economic Development.
In April 2024, the bank’s board approved $550 million in financing for the Rogun project — $150 million from IsDB's own resources and $400 million through Arab development funds.
Located 110 kilometers east of Dushanbe on the Vakhsh River, construction of the Rogun Hydropower Plant began in 1976 but was halted after the collapse of the Soviet Union. Tajikistan later resumed the project. So far, two of the six planned 600 MW turbines have been commissioned, with the third expected to go online in 2025. Once fully operational, the plant will have a capacity of 3.6 GW, and its 335-meter-high dam will be the tallest in the world.
In a December 2024 address to parliament, President Emomali Rahmon noted that $826 million had been allocated from the national budget over the past two years for Rogun’s construction. The project’s total remaining cost is estimated at around $6.2 billion. According to the Finance Ministry, Tajikistan secured $1.5 billion in international financing for the project in 2024, including $350 million in grant funding.
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Photo: Valeriy29/Creative Commons 3.0
Based on TASS materials