The Eurasian Development Bank (EDB) has announced its intention to participate in the financing of the Rogun hydropower plant construction project in Tajikistan in 2024. The announcement was made by Nikolay Podguzov, the Chairman of the EDB Board, during a press conference in Almaty.
"The Rogun HPP is a large-scale and crucial project for Tajikistan. We are focused on its financing and are actively engaging with the government of the Republic of Tajikistan and potential participants in the international syndicate, which is currently being formed," stated the head of the bank to a TASS correspondent. "There is a high probability that by 2024, we will announce the financing of a portion of this massive project with other participants," he added.
According to Podguzov, negotiations with Tajikistan's Ministry of Finance regarding the Rogun hydropower plant project are scheduled, with certain conditions and issues still requiring agreement. The Rogun hydropower plant, situated on the Vakhsh River, is considered the largest in the region. Construction began in 1976, halted after the USSR's collapse, and resumed later by Tajikistan. Currently, two of the planned six 600 MW units are operational. The plant, when completed, will have a 3.6 GW capacity, and its 335-meter-high dam will be the world's tallest. Tajikistan has allocated nearly $3 billion for the project between 2008 and 2021.
The Eurasian Development Bank (EDB) is an international financial organization engaged in investment activities within the Eurasian region. The member countries of the organization include Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan, the latter becoming a full member in 2009. According to Tajikistan's Ministry of Economic Development and Trade, the EDB and its affiliated structures have implemented 13 investment projects in various sectors of the country's economy, with a total value exceeding $266 million. The accumulated investment volume represents approximately 1% of the bank's country portfolio.
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Photo: Valeriy29/Creative Commons 3.0
Based on materials from TASS