EBRD Considers Financing for Rogun Hydropower Project in Tajikistan

The European Bank for Reconstruction and Development (EBRD) is evaluating potential participation in financing the next construction phase of the Rogun Hydropower Plant in Tajikistan. The facility holds strategic importance for the broader Central Asian region – as well as for the host nation – though a final commitment regarding direct funding remains under review.

A comprehensive internal analysis of the project is required before any financial commitment is finalized. A set of specific conditions must be met for the EBRD to move forward with the proposal, and it is currently premature to determine the outcome of deliberations regarding this phase of construction.

While the decision on direct funding for Rogun is pending, the EBRD maintains a significant presence in Tajikistan’s energy sector through other initiatives. Active projects include the regional CASA-1000 power transmission line and the modernization of autotransformers for the national electricity transmission operator.

An agreement to reduce electricity losses within the national grid is expected to be signed by the end of 2026. This initiative supports a strategic focus on renewable energy development, involving collaboration with the Tajik government to establish a framework for attracting international investment.

Additional plans involve holding the first auction for renewable energy projects in 2027. Opportunities are also being investigated to engage major investors through bilateral agreements to further enhance the country’s energy capacity and infrastructure.