Abu Dhabi Fund for Development finances the Ragon Hydropower Plant in Tajikistan
ABU DHABI, 4th February, 2018 (WAM) – The Abu Dhabi Fund for Development signed a loan agreement with the government of the Republic of Tajikistan to finance the Ragon Hydroelectric Power Station project at a value of 376 million dirhams, which is considered one of the most prominent strategic projects supporting the enhancement of energy and water security, within the framework of activating the objectives of the Abu Dhabi Global Water Platform, which the Fund announced its launch at the beginning of this year.
This step reflects the growing development presence of the United Arab Emirates and its influential role in supporting sustainable development paths on the international scene.
The agreement, which was signed during the World Government Summit, embodies the commitment of the Abu Dhabi Fund for Development to adopt innovative and sustainable financing solutions that contribute to addressing the global challenges witnessed by the energy and water sectors, and enhance comprehensive development paths, in a way that supports the achievement of the development priorities of partner countries.
The agreement was signed by His Excellency Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development, and His Excellency Faizuddin Qaherzadeh, Minister of Finance of the Republic of Tajikistan, in the presence of a number of senior officials from both sides.
His Excellency Mohammed Saif Al Suwaidi said: “We are proud to sign this agreement with our partners in the government of the Republic of Tajikistan, through which we confirm the essential role of the Abu Dhabi Fund for Development in supporting global prosperity and promoting sustainable development. This vital project reflects our keenness to achieve the strategic pillars that were set when we launched the Abu Dhabi Global Water Platform, and embodies our deep development vision in supporting water issues, as it is a pivotal priority on the international agenda and an essential component of a more sustainable future.”
He added that the Ragon Hydropower Station contributes to enhancing energy security by providing sustainable, reliable and affordable electricity, meeting the growing demand for it and supporting the integration of regional electricity markets.
He pointed out that the project allows storing about one billion cubic meters of water, using it to generate energy, supporting irrigation activities, and providing drinking water to the population, which achieves a wide-ranging development impact that is not limited to the Republic of Tajikistan only, but extends to the entire Central Asian region.
For his part, His Excellency Fayez al-Din Qaherzadeh said: “We extend our sincere thanks and appreciation to the United Arab Emirates for its pioneering role, which embodies its continued interest and keenness to support the national development goals of partner countries. This development approach reflects the fundamental role played by the Abu Dhabi Fund for Development in consolidating the foundations of sustainable development, by financing specific projects that contribute to achieving progress and prosperity for the peoples of the world.”
He added that financing the construction of the Ragon hydroelectric power station dam, which is 1,185 meters high above sea level, represents a strategic project that enhances the sustainability of basic resources, contributes to decarbonizing the electricity networks in Kazakhstan and Uzbekistan, and strengthens the energy and water security system in the entire Central Asian region.
The Abu Dhabi Fund for Development continues its pioneering role in financing strategic projects in vital sectors that directly affect the lives of communities, reflecting the UAE’s commitment to supporting comprehensive development, to build a prosperous and sustainable future for future generations.
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