Saudi Gazette report
DUSHANBE — The Saudi Fund for Development (SFD) signed a development loan agreement worth $100 million to fund the Rogun Hydropower Project in Tajikistan.
The agreement was signed by SFD CEO Sultan Al-Marshad and Tajikistan's Finance Minister Kahhorzoda Fayziddin Sattor in the presence of Saudi Arabia's Ambassador to Tajikistan Waleed Al-Reshiadan, and Tajikistani Ambassador to the Kingdom Akram Karimi, in addition to other officials from both sides.
The agreement aims to contribute to funding the project, which has a production capacity of 3,600 megawatts, expanding the scope of electricity access to the population, in addition to desalinating drinking water and combating the effects of climate change.
This comes in support of the social and economic development process in Tajikistan, and the creation of direct and indirect job opportunities.
The agreement embodies SFD's keenness on contributions to support developing countries in overcoming challenges facing the development process and plans.
It also comes as a confirmation for the importance of international cooperation and solidarity to achieve sustainable development, to enhance social and economic prosperity and reach comprehensive development in those countries.
Since 2002, SFD has provided Tajikistan support to finance 13 projects and development programs with a value exceeding $293 million, to build social infrastructure in sectors such as health, education, and water, in addition to transportation and energy.
The aid comes within the framework of SFD's development support since the beginning of its activity in 1975, which amounts to financing more than 800 projects and development programs in more than 100 countries around the world, with a value exceeding $20 billion.
