The Tajik Government plans to use nearly 930 million U.S. dollars of external borrowings within the next three years for implementation of the national investment projects.
As part of the national borrowing program of Tajikistan, the Government plans to spend 228.14 million U.S. dollars in 2020, 336.48 million U.S. dollars in 2021 and 365.31 million U.S. dollars in 2022.
This year, the Tajik authorities are expected to spend 189.8 million U.S. dollars as part of the national borrowing program.
Currently, the program includes 60 existing loan projects and 31 loan agreements being at the design stage. As of January 1, 2019, a total amount of loans spent under this program was 1.018 billion U.S. dollars.
The borrower is the government but the loans will be repaid by the economic entities of the country.
As of July 1, 2019, Tajikistan’s external debt amounted to more than 2.894 billion U.S. dollars and the debt-to-GDP ratio was 35.9 percent.
Loan portfolio
Tajikistan’s national borrowing program is financed by the European Bank for Reconstruction and Development (EBRD), the Islamic Development Bank (IsDB) and the World Bank (WB).
Thus, Tajikistan has concluded 20 loan agreements with the EBRD and seven other loan agreements are under consideration.
Tajikistan has concluded seven such agreements with the IsDB and seven others are under consideration.
The active World Bank portfolio in Tajikistan includes 16 projects (including regional projects) with a net commitment of $625 million.
Tajikistan’s national investment projects are also financed by the Asian Development Bank (ADB), the Saudi Fund for Development, the Kuwait Fund for Economic Development, the Export–Import Bank of China (China Exim Bank), the European Investment Bank, the Eurasian Development Bank and some other donors.
The all above-mentioned international financial institutions provide loans to Tajikistan on preferential terms.
