Baku, Azerbaijan, Aug. 3
By Elena Kosolapova - Trend:
The European Bank for Reconstruction and Development allocated $110 million to Tajikistan for implementation of the CASA-1000 project, the Tajik Finance Ministry said.
The respective agreement was signed by Minister of Finance of Tajikistan Abdusal Kurboniyon, chairman of energy holding Barki Tojik Rustam Rakhmatzoda and head of the EBRD in Tajikistan Richard Jones.
The aim of the CASA-1000 project is export of summer surplus of electricity from Tajikistan and Kyrgyzstan to Pakistan and Afghanistan. The project contributes to development of mechanisms in electricity trade and creation of regional electric power market of Central and South Asia.
The total cost of the project is more than $1 billion. The costs of the project are distributed as follows: Tajikistan - $314 million, Kyrgyzstan - $209 million, Afghanistan - $354 million, and Pakistan - $209 million.
Tajikistan currently has signed a grant agreement with the World Bank (WB) worth $45 million and a loan agreement with the European Investment Bank worth 70 million euros. The government of Tajikistan will allocate $15 million for the realization of this project.
In general, the commitment of $250 million has been confirmed, and negotiations to raise the remaining funds continue.
It is scheduled to complete the project in 2019.
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