Islamic Development Bank (IsDB) has approved around $418 million to finance new development projects in member countries, including Tajikistan.
The Board of Directors of IsDB approved four projects aimed at socio-economic development and sustainability during their recent meeting in Riyadh. Among these projects, Tajikistan is set to receive $150 million for the construction of the Rogun Hydro Power Plant (Lot 4 - construction of left bank facilities).
Last year in May, the Ministry of Economic Development and Trade of Tajikistan announced that IsDB would allocate $150 million for the construction of the Rogun Hydro Power Plant and was working with the Arab Coordination Group and relevant development funds to further increase the financing of this project.
Overall, IsDB was expected to allocate over $450 million for priority projects in Tajikistan. According to the Ministry of Finance, the government plans to allocate 5 billion somoni ($456 million) towards the financing of the Rogun project by 2024.
Out of this amount, 2.2 billion somoni is expected to be secured through external financing, while the remaining portion will come from internal sources. In 2023, 5.2 billion somoni was allocated for the completion of Rogun. The Ministry of Energy reported earlier this year that $6.2 billion will be needed for the full implementation of the project. Since the resumption of the Rogun project in 2008, more than 40 billion somoni has been allocated for its completion.
Background:
The Rogun Hydro Power Plant will become the largest hydroelectric power station in Central Asia, with an installed capacity of 3600 MW. The annual electricity generation after the station's full operation is expected to range from 13 to 17 billion kilowatt-hours. This constitutes approximately 65%-85% of the annual electricity generation by all existing capacities in the republic.
In total, the station's powerhouse is planned to house six units, each with a projected capacity of 600 MW. The launch of the last unit is scheduled for 2029. The construction of the station is divided into separate lots: LOT 1 - electromechanical equipment, LOT 2 - dam of the power station, LOT 3 - right bank facilities, and LOT 4 - left bank facilities. It is expected that the construction of the station will be fully completed by 2033.
