Abu dhabi: Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with the Government of the Republic of Tajikistan, as part of its participation at the World Governments Summit, to finance the Rogun Hydroelectric Power Station. Valued at AED376 million, the project is a strategic initiative strengthening energy security and water resilience, implemented within the framework of the Abu Dhabi Global Water Platform, one month after its launch by ADFD.
According to Emirates News Agency, the agreement was signed by Mohammed Saif Al Suwaidi, Director-General of ADFD, and Faiziddin Qahhorzoda, Minister of Finance of Tajikistan, in the presence of senior officials from both sides. The agreement underscores ADFD's commitment to adopting innovative and sustainable financing solutions that address global challenges in the energy and water sectors. It also advances inclusive development and supports the development priorities of partner countries.
Al Suwaidi stated that the agreement with the Government of the Republic of Tajikistan reaffirms ADFD's strategic role in supporting global prosperity and advancing sustainable development. He emphasized that it reflects ADFD's commitment to delivering on the strategic pillars set by the launch of the Abu Dhabi Global Water Platform and embodies their forward-looking development vision in supporting water-related challenges.
The Rogun Hydroelectric Power Station is expected to strengthen energy security by providing sustainable, reliable, and affordable electricity to meet growing demand. It will also enable significant water storage capacity and support the integration of regional electricity markets. The project is set to store approximately one billion cubic metres of water for power generation, irrigation support, and the provision of drinking water, impacting the broader Central Asia region.
Qahhorzoda expressed appreciation to the UAE for its leadership and support of national development goals. He noted that the financing of the station enhances the sustainability of core resources, supports the decarbonisation of electricity grids in Kazakhstan and Uzbekistan, and strengthens the energy and water security ecosystem across Central Asia.
ADFD remains committed to financing strategic projects across vital sectors that impact communities, reflecting the UAE's enduring commitment to comprehensive development and building a prosperous and sustainable future for generations to come.
