The European Union plans to become the largest investor in the world’s tallest dam in Tajikistan, a moved aimed at reducing the dominance of Russian energy supplies in Central Asia.
The European Investment Bank (EIB), the investment arm of the EU, had previously declined to invest in the Rogun hydropower plant project, which commenced construction in 2016.
At the time policymakers were fearful of provoking Russia with such a move, but with the political landscape having shifted significantly in recent months now see the decision not just as permissible but necessary.
Impacting Moscow’s ability to sell oil and gas on the international markets is a top priority for EU leaders, and the Rogun project is set to deliver full energy independence to Tajikistan, a country currently heavily dependent on Russia for it’s energy needs.
And Reuters cites an unnamed EU official who claims the EIB has been instructed to make a significant investment as part of a policy of pushing energy independence from Russia in the region.
The Rogun plant is expected to be the tallest in the world when completed, and will provide Tajikistan not only with enough energy to meet its own needs but to become an exported in the region.
It is understood that the funding will be art of the EU’s “Global Gateway” strategy, a 300 billion euro global infrastructure spending plan aimed at competing with China’s Belt and Road Initiative.