The Tajik authorities expect their foreign partners to support the country’s largest project to date – the 3780 MW Rogun hydropower plant. Conceived in the 1970s, as a 335-meter-high dam with 13 cubic kilometres storage reservoir, the project was supposed to become the tallest structure of its kind in the world.
Since the project relaunch in 2006, Tajikistan has already spent USD 3.3 billion on it and still lacks at least USD 6.4 billion to complete this project. Less than 25% of all construction works have been completed by the end of 2023. All the major international financial institutions (IFIs) – the World Bank (WB), European Investment Bank (EIB), Islamic Development Bank (IDB), Eurasian Development Bank (EDB), Asian Infrastructure Investment Bank (AIIB), Asian Development Bank and eight more are under pressure to get involved in the “Rogun sustainable finance” scheme orchestrated by the WB. The same and other IFIs, such as the ADB and EBRD, finance associated projects: roads and transmission lines enabling construction and functioning of the Rogun dam.
In July 2024, the World Bank published a list of alleged financiers of the “Sustainable Financing for Rogun Hydropower Project”:
| Financier | Commitments
(US$ Millions) |
|---|---|
| EC: European Investment Bank | 269.00 |
| Asian Infrastructure Investment Bank | 269.00 |
| Abu Dhabi Fund for Arab Economic Development | 54.00 |
| Saudi Fund for Development | 54.00 |
| Borrowing Agency (Rogun Hydro Company?) | 646.00 |
| Borrower/Recipient (Tajikistan Government?) | 1244.00 |
| OPEC Fund | 54.00 |
| Kuwait Fund for Arab Economic Development | 54.00 |
| Asian Development Bank | 269.00 |
| IDA Grant (World Bank Group) | 350.00 |
| Islamic Development Bank | 81.00 |
| ITALY: Dev. Coop. Department (MOFA) | 81.00 |
The total contribution of international donors listed above is about US$1.5 billion, which is less than 25% of the sum needed to complete the Rogun HPP Project, as calculated by the IMF in early 2024.
From international finance institution on this list only Islamic Development Bank and Saudi Fund for Development have approved financing for construction of the Rogun Hydro so far (As reported in public information sources by August 14, 224).