DUSHANBE — Tajikistan is in advanced stages of securing substantial international funding to propel the construction of the Rogun Hydroelectric Plant (HPP), one of the most ambitious energy projects in Central Asia.

According to Trend News Agency, President Emomali Rahmon revealed at a recent meeting with the builders of the Rogun HPP that negotiations are actively ongoing with major global financial institutions. The government aims to finalize a grant agreement with the World Bank worth $650 million and a loan agreement with the Asian Infrastructure Investment Bank (AIIB) for $500 million to support the next phases of the hydroelectric facility’s construction.

President Rahmon also highlighted that Tajikistan has already secured several other significant financial commitments. These include a $150 million loan from the Islamic Development Bank and a $100 million contribution from the Saudi Development Fund. Talks are underway to potentially secure an additional $100 million in loans from a consortium of lenders including the OPEC Fund for International Development, the Kuwait Fund for Arab Economic Development, the Abu Dhabi Fund, and the Italian Savings Trust Fund.

The Rogun HPP project, which initially received $488 million in funding directly from the Tajik government, is set to receive an additional $263 million in 2024 as the nation pushes forward with its strategic energy and economic development objectives.