SE Sultan Al-Marshad, the CEO of the Saudi Fund for Development (SFD), signed a new development loan agreement with the Minister of Finance of the Republic of Tajikistan, HE Kahhorzoda Fayziddin Sattor. Under this agreement, the SFD will contribute $100 million to finance the Rogun Hydropower Project – a landmark initiative that will improve energy, food and water security and accelerate the country’s sustainable development.
The signing was attended by the Ambassador of the Kingdom of Saudi Arabia to the Republic of Tajikistan, HE Waleed Al-Reshiadan, and the Ambassador of Tajikistan to Saudi Arabia, HE Akram Karimi, as well as other representatives of both sides.
The SFD development loan will contribute to more sustainable and equitable food and water supplies in Tajikistan, while supporting the country’s energy transition and climate resilience.
The project will ensure electricity supply from renewable energy sources to meet regional demand and expand domestic electricity generation, providing a capacity of 3600 MW in the region to strengthen national energy security and promote sustainable development in the Republic of Tajikistan. The loan will also finance the construction of a 335-meter-high dam that will improve irrigation capabilities and facilitate agricultural activities across the country.
The project will improve flood protection through the construction of four hydraulic tunnels for diversion and drainage. In addition, desalination provides the population with clean drinking water and promotes socio-economic development through the creation of direct and indirect jobs.
As another important point, this project supports the implementation of the UN Sustainable Development Goals (SDGs) – in particular SDG 2, “No Hunger”, SDG 6, “Clean water and sanitation”, and SDG 7, “Affordable and clean energy” .
On the occasion of the signing, the CEO of the SFD, HE Sultan Al-Marshad, said: “Today’s signing marks an important milestone on our shared path towards a more sustainable future. With this landmark development loan, SFD not only supports Tajikistan’s future energy security, but also its sustainable development and the well-being of its people. The Rogun Hydroelectric Project is a beacon of hope for a better future powered by clean, renewable energy. It will lead Tajikistan to environmental responsibility and prosperity.”
