European Bank for Reconstruction and Development
Green Climate Fund approves EBRD project proposals in Tajikistan and Morocco
Two EBRD climate resilience project proposals for the modernisation of a hydropower plant in Tajikistan and an irrigation scheme in Morocco have been approved for co-financing by the Green Climate Fund (GCF) today (4/6).
The total project volume for the two projects is US$ 415 million, of which US$ 81 million will be provided by the GCF in the form of concessional loans and grants:
- In Tajikistan the EBRD and other co-lenders are providing US$ 158 million for the climate-resilient upgrade of Qairokkum hydropower plant, with co-financing of US$ 50 million from the GCF.
- Under the Morocco Saïss Water Conservation Project the EBRD and partners are extending US$ 207 million for irrigation infrastructure that will protect agricultural production from the impacts of climate change with a co-financing grant contribution of 32 million from the GCF, together with a further 54 million contribution from the Kingdom of Morocco.
Craig Davies, EBRD Head of Climate Resilience Investments, said: "These investments will strengthen the climate resilience of critical infrastructure in both countries, foster greater private sector involvement and benefit key sectors in both countries. The EBRD believes that successful economies should be competitive, green, well-governed, inclusive, resilient and integrated."
In Tajikistan, the modernisation of the Qairokkum hydropower plant will address the energy security needs of 2.4 million people in the northern Sughd region in the face of increasing climatic variability. GCF support will enable best international practices on climate risk management to be introduced to the Tajik hydropower sector.
More reliable and climate-resilient energy generation will address the frequent electricity blackouts which are severely harming the economy of Tajikistan, a country where hydropower sources are responsible for 98 per cent of electricity generation.
Extensive cooperation between the EBRD, the Tajik authorities and international experts involved detailed climatic and hydrological studies, which informed the design of the Qairokkum project. This led to the selection of turbine, spillway and dam safety monitoring equipment that is designed to cope with the projected increasing variability in climatic conditions in the Syr Darya river basin.
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European Bank for Reconstruction and Development (EBRD)