Another 400 million dollars for the construction of the Rogun Hydroelectric Power Station

Tajikistan will receive an additional 400 million dollars from the Arab Fund for Development for the construction of the Rogun Hydropower Plant.

According to the state news agency Khovar, on June 10, the President of Tajikistan Emomali Rahmon met with the President of the Islamic Development Bank Group, Dr. Muhammad Suleiman Al-Jasser.

It was reported that Muhammad Suleiman Al-Jasser emphasized that “the Islamic Development Bank supports the project for the construction of the Rogun Hydropower Plant.”

During the conversation, Rahmon expressed interest in “continuing cooperation with the Bank within the framework of the Bilateral Cooperation Strategy for 2023-2026, the Agreement with the International Islamic Trade and Finance Corporation, and the Program for ‘Supporting the National Education Development Strategy.’”

Rahmon and Al-Jasser also highlighted the importance of utilizing “green energy,” developing a “green economy,” digitalization, and implementing “green” technologies in various sectors of the economy.

After this meeting, Dr. Muhammad Suleiman Al-Jasser informed journalists that within the framework of this cooperation, the Arab Fund for Development will allocate an additional 400 million dollars for the Rogun Hydropower Plant construction project.

The Islamic Development Bank has financed the implementation of a number of projects in Tajikistan amounting to 916 million dollars to date. Currently, the Bank is financing 7 investment projects in the fields of energy, transport, irrigation, education, and healthcare totaling 237 million dollars.

Tajikistan invests hundreds of millions of somoni from the budget annually in the construction of the Rogun Hydropower Plant. Additionally, the country attracts hundreds of millions in foreign investments.

Previously, in 2009 and 2010, the Tajik government, in cooperation with law enforcement and state agencies, compelled a large part of the population to invest in this project by forcing them to purchase shares of the Rogun Hydropower Plant, promising to pay dividends in about 2-3 years. However, after 14 years, no one has received dividends, and the Tajik government no longer raises this issue.

Most of the construction companies involved in this large project belong to relatives and family members of Emomali Rahmon, as well as other high-ranking officials. Despite having already attracted hundreds of millions in grants and loans, the authorities still seek to attract as much foreign investment as possible.