Tajikistan secures $550 million funding for Rogun megaproject

A general view shows a construction site of Rogun hydroelectric power station on the Vakhsh River ahead of the launch of its first turbine, east of country's capital Dushanbe, Tajikistan November 14, 2018. REUTERS/Nozim Kalandarov/ File Photo

Source: X01755

Tajikistan has secured $550 million in financing from the Islamic Development Bank and institutions in several Arab countries for its Rogun hydroelectric power plant megaproject, the Dushanbe government said on Tuesday.

The Central Asian nation's economic development and trade ministry said minister Zavki Zavkizoda met Islamic Development Bank President Muhammed Al-Jasser in Riyadh on Tuesday.

Tajikistan's government said this year it needed $6.2 billion to complete Rogun, which will feature the world's tallest dam and ensure the country's energy security.

Two of the plant's six turbines have been built and are producing electric power, but Tajikistan still faces seasonal power shortages which force it to ration supplies.

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters