AIIB approves loan to support hydro power project in Tajikistan

DUSHANBE (TCA) — The Board of Directors of the Asian Infrastructure Investment Bank (AIIB) on June 15 approved a US $60 million loan for Tajikistan’s Nurek Hydropower Rehabilitation Project Phase I, co-financed with the World Bank. The project aims to rehabilitate and restore the generating capacity of three units of the Nurek hydropower plant, improve their efficiency and strengthen the safety of Nurek dam operations.

The rehabilitation of Nurek hydropower plant (HPP) will be implemented in two phases. The phased approach is due to unavailability of the total financing required to complete all rehabilitation works. The Project, which is the Phase I of the rehabilitation, consists of:

Component 1: Rehabilitation of the power plant and replacement of auto-transformers. This component will include the replacement and refurbishment of mechanical, electrical, and electromechanical equipment and works required for the rehabilitation of the Nurek HPP; and replacement of auto-transformers.

Component 2: Dam Safety. This component will include activities to improve the safety of the operation of the Nurek HPP.

Component 3: Technical Assistance. This component will support implementation of the Project and strengthen the institutional capacity of Tajikistan’s state energy company Barqi Tojik.

AIIB is a new multilateral development bank founded to bring countries together to address the daunting infrastructure needs across Asia. Headquartered in Beijing, AIIB commenced its operation in January 2016 and has now grown to 80 approved members from around the world. Its mission is to improve economic and social development in Asia by investing in high quality, financially viable and environmentally friendly infrastructure projects.

Sergey Kwan

TCA