Tajikistan’s industrial and export bank Sanoatsodirotbonk (Industry & Export Bank) is stepping up its international cooperation efforts, following a key bilateral meeting with the Saudi Export-Import Bank (Saudi EXIM) during the annual session of the Islamic Development Bank (IsDB) Group.
The meeting, led by Sanoatsodirotbonk Chairman Hokimshoh Bobozoda and Saudi EXIM Vice Chairman Naif Al-Shammari, focused on strengthening bilateral cooperation in export financing, implementing joint investment projects, and exchanging best practices in banking operations. The sides also discussed personnel training and experience sharing between the two institutions.
As a first step in formalizing this partnership, the two banks signed a long-negotiated Memorandum of Cooperation, laying the groundwork for future joint initiatives.
According to press release issued by Sanoatsodirotbonk, the agreement marks an important milestone in expanding its international economic activities and will support the bank’s efforts to offer new financial products and improve service quality for clients.
In addition to the bilateral talks, the Tajik delegation also held high-level meetings with Dr. Muhammad Sulaiman Al Jasser, President of the Islamic Development Bank Group, and Sultan Abdulrahman Al-Marshad, Executive Director of the Saudi Fund for Development.
During the discussions, the Tajik side reportedly appreciated the institutions’ contributions to sustainable development projects in Tajikistan, particularly in the energy, transport, and education sectors.
All parties expressed readiness to deepen cooperation. Sanoatsodirotbonk, in turn, reaffirmed its commitment to delivering quality services in the implementation of sustainable development initiatives.
Sanoatsodirotbonk was established on the basis of the State Entrepreneurship Support Fund to finance entrepreneurs’ projects.
By government’s decree the State Entrepreneurship Support Fund under the Government of Tajikistan was reorganized to the SUE Sanoatsodirotbonk in 2020.
The State Entrepreneurship Support Fund was established in 2014 to support the successful development of entrepreneurial companies through an array of business support resources and services.
In a statement delivered at a meeting with entrepreneurs and investors in Dushanbe, President Emomali Rahmon noted on October 14, 2014 that the State Entrepreneurship Support Fund’s budget will be replenished with 1 billion somonis within the next seven years.
