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SHAHRINAV, Tajikistan, December 5, 2023–(BUSINESS WIRE)–Saudi Fund for Development (SFD) Executive Director H. E. Sultan Al-Marshad, signed a new progressive loan agreement with the Minister of Finance of the Republic of Tajikistan, H. E. Kahhorzoda Fayziddin Sattor, through which the SFD is providing US$100 million to finance the Rogun hydropower project, a landmark initiative that will contribute to energy, food and water security and promote the country’s sustainable progress.
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The Director General of SFD, H. E. Sultan Al-Marshad and the Minister of Finance of Tajikistan, H. E. Kahhorzoda Fayziddin Sattor, commemorate a $100 million loan agreement. (Photo: AETOSWire)
The signing took place in the presence of the Ambassador of the Kingdom of Saudi Arabia to the Republic of Tajikistan, H. E. Waleed Al-Reshiadan and the Ambassador of Tajikistan to Saudi Arabia, H. E. Akram Karimi, along with officials from both parties.
SFD’s development loan will help contribute towards a more sustainable and equitable food and water future for Tajikistan, while driving the country’s energy transition and climate resilience.
The mission aims to contribute to national electricity security and will help promote sustainable progress in the Republic of Tajikistan by providing a renewable electricity source to meet local demand and expanding electricity generation nationally and regionally. A matrix that generates 3,600 MW. de power. The loan agreement will also finance the structure of a 335-metre-high dam, which will serve as an irrigation system and stimulate agricultural activities throughout the country.
In addition, the order will cover flooding through the structure of 4 hydraulic tunnels for diversion and drainage. It will also provide clean, drinkable water to populations through desalination and help promote socioeconomic progress through the creation of direct and indirect jobs.
It should be noted that this allocation also supports the achievement of the United Nations Sustainable Development Goals (SDGs); specifically, SDG 2, Zero Hunger, SDG 6, Clean Water and Sanitation, and SDG 7, Affordable and Clean Energy.
On this occasion, the CEO of SFD, H.E. Sultan Al-Marshad, said: “Today’s signing marks a major milestone in our shared journey towards a more sustainable future. With this landmark development loan, SFD is not just supporting Tajikistan’s energy future, but also its sustainable development and the well-being of its people. The Rogun Hydropower Project is a beacon of hope for a bright future that is powered by clean, renewable energy. It will propel Tajikistan towards environmental stewardship and prosperity.”
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Source: AETOSWire
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