The Eurasian Development Bank is expected to provide 650 million US dollars to finance priority projects in Tajikistan in 2023-2026.
According to the Ministry of Economic Development and Trade of Tajikistan (MoEDT), this issue was discussed at a meeting of Zavqi Zavqizoda, the Minister of Economic Development and Trade of Tajikistan with Nikolai Podguzov, Chairman of the EDB Management Board that took place in Kazakhstan’s capital, Astana, on July 1.
Zavqizoda, heading a government delegation, reportedly arrived in Astana on June 30 to participate in the EDB Council’s regular meeting.
The MoEDT press center says that during the meeting that took place on the margins of EDB Council regular meeting. Zavqizoda and Podguzov discussed issues related to “further expansion of cooperation between Tajikistan and the Bank, attraction of preferential funds due to the influence of external factors and the Tajik Government’s anti-crisis plan, new priority projects based on the country's development goals and the prospects for medium-term cooperation.”
In this regard, Zavqizoda reportedly asked Podguzov to increase the financing of socio-economic sectors of Tajikistan to facilitate the achievement of strategic goals and priorities of Tajikistan’s Government, including development of green economy, industrialization, improvement of export potential, development of digital economy and social sectors.
For his part, Podguzov reportedly expressed readiness to “increase the financing of projects in these directions and assured that the Bank’s investment portfolio in Tajikistan will increase to 5 percent of the total investment portfolio of the Bank.”
The parties agreed that the EDB will provide 650 million US dollars to finance priority projects in Tajikistan in 2023-2026, according to the MoEDT press center.
Meanwhile, the EDB says Podguzov noted that the Bank plans to provide at least 25 million US dollars for the development of industrial horticulture in Tajikistan, which is expected to double the area of gardens equipped with modern automated monitoring and irrigation systems. According to him, this will make it possible for the relevant company to boost exports to the Eurasian Economic Union (EAEU) member nations.
To-date, the EDB has reportedly financed 13 investment projects in Tajikistan totaling at 266.4 million US dollars.
The Eurasian Development Bank is an international financial institution investing in Eurasia. For more than eighteen years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The EDB's charter capital totals US$7 billion. Its portfolio mainly consists of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles. The Eurasian Development Bank has observer status in the UN General Assembly.
