Tajikistan and the Asian Infrastructure Investment Bank (AIIB) have signed an agreement for $270mn (1.92bn yuan) to fund the "Roghun HPP Development Program, Phase 1." The Ministry of Finance of Tajikistan announced the signing on December 21, according to Khovar news agency.
The agreement was signed in Beijing on December 20 by Tajikistan's Minister of Finance, Faiziddin Qahhorzoda, and AIIB Vice President Konstantin Limitovsky.
This funding is part of the AIIB's total financial commitment of $500mn for the Roghun hydropower plant (HPP) project, which will be allocated in two stages through separate agreements. Specific terms of the funding were not disclosed.
The allocated funds will co-finance components of the Roghun HPP project, including Lots 1 and 3A. Additionally, the funding will support the construction and rehabilitation of 55 kilometers of roads, including bridges connecting villages.
The Roghun HPP Development Program is intended to bolster Tajikistan's energy independence and contribute to its sustainable economic growth.
About the AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank focused on improving economic and social outcomes across Asia. Established in 2015 and headquartered in Beijing, the AIIB is the world’s second-largest multilateral development institution. The bank has 110 member countries, including 12 prospective members.
The institution began operations on December 25, 2015, following ratifications from 10 member states representing 50% of the initial authorized capital subscriptions.
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