Tajikistan Signs First Stage of $100 Million Contract with OPEC Fund for Rogun HPP

On October 10, during a visit to the headquarters of the OPEC Fund in Vienna, a delegation from the Republic of Tajikistan, led by Deputy Prime Minister Usmonali Usmonzoda, signed a contract marking the completion of the first stage of the Credit Agreement between the two parties to finance the Rogun HPP (Lot 4) project. The project aims to promote the republic's energy security and economic development by increasing the production of electricity to supply the domestic market and its export to the region's countries. A total of  $100 million allocated by the OPEC Fund for the project, will be implemented in four stages under separate agreements worth $25 million. The rating agency S&P has estimated the cost of completing the construction of the Rogun HPP in Tajikistan as $6.4 billion. According to S&P, the Rogun HPP currently produces electricity at 10-15% of its total capacity. In 2024-2035, income from electricity which is expected to reach $1.1 billion, will be invested in further construction of hydroelectric power plants. On September 17, during the summit of the Central Asian countries and Germany, in Astana, President of Tajikistan, Emomali Rahmon, invited German Chancellor Olaf Scholz to cooperate on the Rogun HPP. Since then, The Times of Central Asia has been reporting on loans allocated for the plant’s construction.

OPEC Fund to Allocate $500 Million for Tourism, Logistics Development in Uzbekistan

A delegation of the Organization of the Petroleum Exporting Countries (OPEC) International Development Fund headed by President Abdulhamid Alkhalifa participated in the events of the Tashkent International Investment Forum. The OPEC Fund and the Government of Uzbekistan signed agreements on joint activities and financial commitments worth $500 million. The funds will be used for the development of tourism, logistics, pharmaceuticals, ecology, support for women's entrepreneurship, and youth initiatives. The OPEC delegation will visit the facility of water supply and wastewater disposal in the Samarkand region, which was financed by the organization. This project provides the basic tools to improve health and living conditions for 70,000 local residents. For 25 years, the OPEC Fund has been working with Uzbekistan, providing it with $760 million in loans. This financial support has helped provide drinking water to remote areas and modernize Uzbekistan's energy sector. This year's Tashkent Investment Forum was attended by 2,500 delegates - government leaders, heads of major companies and representatives of the United Nations (UN), the European Bank for Reconstruction and Development (EBRD), the Organization of the Petroleum Exporting Countries (OPEC), and the Shanghai Cooperation Organization (SCO).