The Eurasian Development Bank has been participating in the Donors’ Committee, which discusses issues related to financial support for the Roghun Hydropower Project (HPP), EDB's Management Board Chairman Nikolai Podguzov said on November 16 at a press conference on the results of the presentation of the EDB’s survey on efficient irrigation and water conservation in Central Asia. 

“We participate in these discussions, and we would like to be able to allocate resources to Roghun,” said Podguzov.  “However, it’s still difficult to say how these discussions will develop.”

“We understand the importance of participating in this project, I hope it will work out,” EDB's Management Board chairman added.

A new EDB study outlines ten practical steps for preserving irrigated land potential and promoting water conservation.  The list includes four recommendations for adoption at the regional level and six at the national level.  The measures are designed to save enough water each year to support sustainable development. Implementing the measures will require collaboration between governments, farmers and multilateral development institutions.  The need for urgent action is intensified by the anticipated reduction in the flow of the Amu Darya River.  

Recall, the consortium for attraction of funds of international donors for completion of the construction of Roghun hydropower plant was established last year.  The World Bank coordinates its activities.

In mid-August this year, an official source within the Ministry of Finance of Tajikistan said that direct negotiations of the government with potential investors will begin before the end of the year. 

According to him, the Tajik authorities have already reached an agreement with Asian Infrastructure Investment Bank (AIIB) on attraction of a soft loan of US$500 million.

Besides, the Islamic Development Bank (IsDB) reportedly “intends to increase financing of this hydropower facility from US$150 million to US$250 million.”  

In Late October this year, the Saudi Fund for Development (SFD) has announced its readiness to provide a concessional loan of 375 million riyals (equivalent to 100 million US dollars) for completion of the construction of the Roghun hydroelectric power plant.  

The Roghun HPP is one of the largest projects in the region that can become an important factor of development of Tajikistan and the Central Asian region as a whole.  It will contribute significantly to the country’s sustainable development by efficiently utilizing natural resources, including “green” energy.

To complete the construction of the Roghun hydropower plant, Tajikistan founded OJSC NBO Roghun in April 2008 after it formally revoked a contract with Russia's RusAl aluminum company in August 2007.  To raise funds to complete construction of the Roghun HPP the government started to sell shares in Roghun to people on January 6, 2010.  Tajikistan has reportedly issued 6 billion somonis worth of 5 million Roghun shares.

In 2016, construction duties on Roghun were assigned to Italian company Salini Impregilo (currently Webuild).

The project is broken down into four components, with the most expensive one involving the building of a 335-meter-high clay core rockfill dam — the tallest in the world — which will entail costs of around US$1.95 billion.  Construction of the Roghun hydropower plant is expected to be completed in 2033.

Two of the six turbines have already started producing energy for sale to raise funding to complete it.  The first turbine went into service in November 2018 and the second one was introduced into operation in September 2019.

In his address to a joint meeting of parliament, President Emomali Rahmon said on December 23 last year that the construction activities at the site for construction of the Roghun hydropower plant are ongoing dynamically.  To this end 3.2 billion somonis (equivalent to 315 million U.S. dollars) were channeled in 2022.

To-date, spending on the construction of the Roghun hydropower plants has reportedly exceeded 40 billion somonis since 2008. 

If built as planned, the Roghun hydropower plant is expected to end chronic power shortages in Tajikistan and allow it to export electricity to neighboring countries.

The Eurasian Development Bank is an international financial institution investing in Eurasia.  For more than eighteen years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.  The EDB's charter capital totals US$7 billion.  Its portfolio mainly consists of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering.  The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.  The Eurasian Development Bank has observer status in the UN General Assembly.