The Asian Infrastructure Investment Bank (AIIB) and the Republic of Tajikistan have signed a $2.04mn grant agreement to support the Obigarm–Nurobod Road Project – Long Bridge and Approaches, marking the Bank’s first-ever Project-Specific Window (PSW) grant.
The signing ceremony, held at AIIB’s headquarters in Beijing, was attended by Tajikistan’s Minister of Finance Fayziddin Qahhorzoda and AIIB Chief Investment Officer Konstantin Limitovskiy. Representatives from the China International Development Cooperation Agency (CIDCA), which is funding the grant, were also present.
The Obigarm–Nurobod Road Project is a key component in restoring vital transport connectivity along a 75-kilometer stretch of the M41 Highway in central Tajikistan, disrupted due to the reservoir formation from the Rogun Hydropower Plant. The project aims to improve mobility and economic activity across mountainous areas north of the Vahdat River Valley.
“This first PSW grant is an important step in AIIB’s journey to scale impact through blended finance,” said Limitovskiy. “By combining infrastructure investment with local skills development and inclusive programming, we aim to deliver long-term benefits for communities – especially women and youth in project-affected areas.”
The grant will support a range of inclusive initiatives, including vocational training for infrastructure workers, community training centers for women, and entrepreneurship programs aimed at improving livelihoods in the region.
AIIB’s PSW is a Special Fund designed to attract and channel grant financing from development partners into high-impact infrastructure projects. The Obigarm–Nurobod PSW grant is the first of its kind under this initiative and demonstrates AIIB’s push to integrate concessional finance into its operations.
Founded in 2016, AIIB is a multilateral development bank with 110 members and a $100bn capital base. It focuses on “infrastructure for tomorrow,” with a core commitment to sustainability and regional connectivity. The Bank is AAA-rated and works closely with other development institutions and partners to scale up investment in infrastructure and productive sectors.
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