Tajikistan Advances Transport And Energy Sector With AIIB-Backed Projects (Exclusive)
Date
11/3/2023 12:21:24 AM
(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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