(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 3. The Asian Infrastructure Investment Bank (AIIB) has financed two projects in Tajikistan, one in the transport sector and the other in the energy sector, a source at AIIB told Trend .

The source elaborated that the first project included providing funding of $27.5 million for improving the Tajikistan–Uzbekistan highway, with a focus on enhancing vital infrastructure and promoting regional connectivity.

It involved both road rehabilitation and reconstruction, as well as providing consultancy services for construction supervision. The detailed engineering design for the roadwork component has already been completed.

The second project involved providing $60 million in financing for the first phase of the rehabilitation of the Nurek hydropower plant. The rehabilitation was split into two phases due to the unavailability of the total funding required to complete all the necessary work.

According to Ludger Schuknecht, Vice President and Corporate Secretary of AIIB, the bank's investment portfolio in Tajikistan amounted to approximately $87.5 million as of July 2023, and AIIB is eager to expand its cooperation with Tajikistan.

AIIB is a multilateral development bank with a mission to finance infrastructure projects that prioritize sustainability. Since beginning operations in Beijing in January 2016, it has grown to include 109 members worldwide. AIIB collaborates with partners to meet their needs, mobilize new capital, and invest in green, technology-enabled infrastructure that enhances regional connectivity.

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