DUSHANBE- China-led Asian Infrastructure Investment Bank (AIIB) will provide a $500 million soft loan to Tajikistan for the construction of the Rogun hydroelectric power plant, Tajik President Emomali Rakhmon's office said on Wednesday.

Rakhmon is visiting China this week along with four other Central Asian leaders for a meeting with Chinese leader Xi Jinping. Their meeting comes at a time when Russia's influence in the ex-Soviet region is waning due to the war in Ukraine.

Ahead of his meeting with Xi, Rakhmon met AIIB President Jin Liqun, the Tajik president's office said, and the latter announced the Rogun financing deal.

Tajikistan began the construction of the Rogun hydropower plant in 2016. The project could deliver full energy independence to the landlocked country.

It has already launched two of the six planned turbines but estimates it will need another $5 billion to complete the project.