The Saudi Fund for Development (SFD) will provide $100 million development loan to Tajikistan to build the Rogun Hydropower Project, a landmark initiative that will enhance energy, food and water security.
SFD Chief Executive Officer, Sultan Al-Marshad, signed the loan agreement with the Minister of Finance of the Republic of Tajikistan, Kahhorzoda Fayziddin Sattor.
The signing was attended by the Ambassador of Saudi Arabia to Tajikistan, Waleed Al-Reshiadan, and the Ambassador of Tajikistan to Saudi Arabia, Akram Karimi, alongside other officials from both sides.
Sustainable and equitable
SFD’s development loan will help contribute towards a more sustainable and equitable food and water future for Tajikistan, while driving the country’s energy transition and climate resilience.
The project aims to contribute to the national energy security and will help advance sustainable development in the Republic of Tajikistan, by providing the renewable electricity supply to meet local demand and expand electricity production domestically and regionally, producing 3600 MW of energy. The loan agreement will also finance the construction of a 335-meter-tall dam, which will enhance irrigation capabilities and bolster agricultural activities across the country.
Additionally, the project will improve flood protection through the construction of four hydraulic tunnels for diversion and drainage. It will also provide clean and drinkable water to people through desalination, and help advance socio-economic development, by creating both direct and indirect jobs.
Importantly, this project also supports the realisation of the UN Sustainable Development Goals (SDGs); specifically, SDG 2, Zero Hunger, SDG 6, Clean Water and Sanitation, and SDG 7, Affordable and Clean Energy.
Al-Marshad said: “Today’s signing marks a major milestone in our shared journey towards a more sustainable future. With this landmark development loan, SFD is not just supporting Tajikistan's energy future, but also its sustainable development and the well-being of its people. The Rogun Hydropower Project is a beacon of hope for a bright future that is powered by clean, renewable energy. It will propel Tajikistan towards environmental stewardship and prosperity.”--TradeArabia News Service