DEVELOPMENT NEWS
The plant is expected to generate more than 200 GWh of electricity annually.
Unleashing hydropower in Bhutan A US$47.3 million loan will help the Kingdom of Bhutan build a 55 MW run-of-river hydropower project downstream of an existing hydropower plant. The cascading arrangement eliminates the need for major hydraulic structures, optimizing capital costs and minimizing environmental impacts. The project is expected to generate more than 200 GWh of electricity annually; the surplus of which will be exported to India. The project will also reduce the disparities among Bhutan’s regions, as the eastern part of the country is considered underdeveloped, despite the significant hydropower potential.
Boosting connectivity in Tajikistan A US$30 million loan will finance the reconstruction of more than 80 km of Tajikistan’s Rushan-Varshez corridor, part of the Asian Highway AH66. Works will include the construction of nine small bridges and 117 culverts along the route as well as connecting villages along the corridor with 10 km of rural feeder roads. The project is expected to generate substantial social benefits by improving access, lowering transport costs and stimulating local and regional economic activity, which will be especially significant for the Gorno Badakhshan Autonomous Oblast, one of the most remote and underserved regions.
Armenia: Empowering small businesses...
A series of recent OPEC Fund operations will support small businesses and the agriculture sector in Armenia. Taken together, these will help address the country’s formal MSME finance gap of approximately US$1 billion, which account for 69 percent of employment. A US$50 million loan to Ameriabank will focus on agribusinesses and MSMEs. A US$35 million syndicated loan to Armeconombank will expand access to finance for MSMEs. It comprises a US$20 million A-loan from the OPEC Fund and a US$15 million B-loan provided by the Allianz Credit Emerging Markets Fund, managed by Allianz Global Investors.
A €80 million loan will support Armenia’s economic transformation towards faster and more sustainable growth by improving the business environment, facilitating investment and trade and enabling greener growth. Specifically, the Armenia Economic Transformation Program will enact reforms that include strengthening consumer protection against unfair competition, adopting laws friendly to the digital economy, streamlining customs procedures, modernizing air quality legislation and providing a green investment framework, among others. ...and fostering economic growth
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