The project is also being supported by a $750,000 grant from the Japan Fund for Poverty Reduction for capacity building technical assistance, the press service of the Bank reported on June 26.
Tajikistan depends on hydropower for 98% of its electricity needs. In summer, when demand is low but glacial melt is high, there is an electricity surplus. But in winter when rivers freeze, and demand for heating is high, hydropower generation declines resulting in limited lighting and heating for three out of four Tajiks.
The project will promote energy efficiency and environment-friendly homes. It will provide loans through microfinance institutions to households and small businesses to buy and fit energy-efficient roofs and doors, double-glazed windows, insulated ceilings and floors, advanced water pumps, solar water heaters, and other products.
People need to know that energy efficient alternatives pay even though there are considerable initial costs. This innovative project will help remove the barriers to energy efficient products by increasing public awareness and providing affordable financing, C.C. Yu, ADB’s Country Director for Tajikistan, said.
The project will particularly target women borrowers, and support private sector development by stimulating local production of innovative green energy products and services.
The Tajik Government and sub-borrowers will provide counterpart funding of $1.12 million for the project, which is due for completion in 2019. The Ministry of Finance will be the executing agency.
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