BAKU, Azerbaijan, January 13. The World Bank (WB) has approved $15 million in grant financing from the International Development Association (IDA) for the Technical Assistance for Financing Framework for Rogun Hydropower Project in Tajikistan, Trend reports via WB.
Under this project, the World Bank aims to support the Government of Tajikistan in improving the financial and commercial frameworks of the Rogun HPP Project and enhancing its technical, environmental and social sustainability.
The grant will finance the hiring of experts on dam safety and environmental and social frameworks to help with necessary improvements that will bring the project in line with current hydropower industry requirements.
"The Rogun HPP Project, currently under construction, has the potential to generate significant economic, social, and environmental benefits for Tajikistan and other countries in the Central Asia region if it develops in a financially, environmentally, and socially sustainable manner," the message said.
WB also noted that the project would also improve the readiness of the Rogun HPP Project to increase the financing required for its completion.
"In particular, it would help to update the financing plan to ensure that annual spending on the project does not create macro-fiscal risks for the country and that the HPP has a reliable commercial framework for sale of electricity to domestic consumers and for exports," the WB underlined.