Tajikistan Allocates Over $1B to Rogun Dam for 2026

The government of Tajikistan will direct at least 10 billion somoni–equivalent to more than one billion US dollars–to finance the completion of the Rogun Hydropower Plant (HPP) project in 2026. Of this amount, 8.2 billion somoni is allocated from the state budget. The remainder will be sourced from international development partners, following the signing of relevant agreements and the fulfillment of all domestic procedures and donor conditions.

Multiple international financing streams have been secured. The World Bank has begun disbursing a $350 million grant, with a further $300 million expected by mid-2026. The Asian Infrastructure Investment Bank (AIIB) will provide a total of $500 million, beginning with a first tranche of $270 million. Additionally, procedures are complete to receive credit from the Islamic Development Bank ($150 million), the Saudi Fund for Development ($100 million), the Kuwait Fund for Development ($100 million), and the OPEC Fund ($100 million), pending the finalization of tenders.

The external financing is intended to accelerate the pace of construction in 2026. This acceleration is critical for meeting the project’s timeline, which schedules the launch of the plant’s third generating unit for September 2027. Some financing agreements signed in 2024–2025 have recently entered into force after preliminary conditions were met. The 2026 funding follows an allocation of approximately 11 billion somoni in 2025, a sum that included 2 billion somoni for servicing Eurobonds.