On November 7, Tajik President Emomali Rahmon met in Sharm al-Sheikh with the President of the European Bank for Reconstruction and Development (EBRD) Ms. Odile Renaud-Basso on the sidelines of the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP-27).
According to the Tajik president’s official website, the parties discussed state and prospects of further expansion of cooperation between Tajikistan and the EBRD.
Rahmon reportedly expressed gratitude to the Bank management for continuous and beneficial cooperation and expressed confidence that the process of financing projects in the priority areas of Tajikistan will continue effectively.
The contribution of the Bank to the strengthening of the financial sector, the development of the private sector, the fields of transport, energy, water supply and raising the level of communal services in Tajikistan was emphasized.
Increasing economic activity, development of the financial market and support for industrial entrepreneurship, especially in the direction of final processing of agricultural products, mining minerals and other local raw materials, were outlined as other areas of cooperation.
The Tajik president’s official website notes that attracting additional funds for the full implementation of projects to achieve one of the strategic goals of the state, i.e. "energy independence", as well as, under the conditions of climate change, more access to "green energy" and the formation of a "green economy" was considered necessary.
The parties reportedly also exchanged views on a number of issues being of mutual interest.
In Tajikistan, the EBRD focuses on stabilizing and rebuilding trust in the banking sector, developing private enterprises and agribusiness, improving the availability, reliability and quality of municipal services and improving the quality of energy supply, regulation and energy efficiency.
The new country strategy for Tajikistan sets out the Bank’s priorities in the country for the period 2020-25 and addresses issues such as a volatile macroeconomic environment, a challenging business climate and vulnerability to climate change factors.
The EBRD’s operational and strategic priorities in Tajikistan are based on the following three pillars: strengthening the competitiveness of businesses and improving the business environment; fostering regional integration, energy reform and infrastructure connectivity; and supporting wider access to better infrastructure and business services for women, young people and underdeveloped regions.
To date, the European Bank for Reconstruction and Development has invested 958 million euros in Tajikistan’s economy through 155 projects.
