Translated with AI
The World Bank Group Board approved the second phase of grant financing for the Rogun Hydroelectric Power Plant (HPP) construction project in the amount of US$300 million, according to the press service of the Ministry of Energy and Water Resources of the Republic of Tajikistan.
According to Payrav Amirzoda, Representative of the Republic of Tajikistan to the World Bank and the International Monetary Fund, the Tajik side expressed gratitude to the World Bank's leadership for its continued support and constructive efforts to advance one of the most important strategic projects for the country and the entire Central Asian region.
According to him, the Rogun HPP construction project is central to Tajikistan's long-term development strategy and is crucial for ensuring sustainable economic growth, strengthening financial stability, and creating new jobs. At the same time, the project's implementation will contribute to improving the energy sector's governance system, expanding trade and economic cooperation, and attracting development partners through a phased investment program.
The Ministry of Energy and Water Resources noted that once the hydroelectric power plant is fully operational, the country's energy system will be significantly modernized. This will completely eliminate seasonal power shortages and significantly improve the reliability of power supply. Furthermore, the project will play a significant role in strengthening Tajikistan's resilience to the effects of climate change.
It is also emphasized that the construction of the Rogun HPP will create favorable conditions for industrial development, increased economic productivity, diversified production, and the creation of tens of thousands of new jobs both during construction and after the facility's commissioning. The project's long-term benefits will also extend to the manufacturing sector, agriculture, and digital services.
Particular attention is given to the project's regional significance. The statement notes that the Rogun HPP is of strategic importance for strengthening cooperation between Central Asian countries and ensuring their energy security. Exporting clean electricity will contribute to the development of the regional electricity market and reduce dependence on fossil fuels.
Furthermore, it was noted that the new funding phase is fully consistent with the National Development Strategy of the Republic of Tajikistan and the Cooperation Framework with the World Bank. The parties confirmed their commitment to continued effective collaboration and the successful implementation of the Rogun HPP construction project.
