DUSHANBE, March 10, 2009, Asia-Plus — Consideration of an agreement on Tajikistan’s joining the Eurasian Development Bank (EDB) is one of major topics of a regular sitting of the fifth session of the Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament) of the third convocation has opened in Dushanbe today morning.
Muhammadato Sultonov, a spokesman for the Majlisi Namoyandagon, said parliamentarians would also consider amendments to the laws on bankruptcy, joint-stock companies, education, licensing certain types of activity, etc.
Established in January 2006, the Eurasian Development Bank (EDB), with headquarters in Almaty, Kazakhstan, has a branch in St. Petersburg, Russia”s second city, and offices in the two countries” capitals, Moscow and Astana. The bank was founded to help boost investment across the former Soviet Union. Russia and Kazakhstan signed an agreement to create the bank on January 12, 2006 in the Kazakh capital, Astana. Under the agreement, the bank has authorized capital of $1.5 billion, 33% of which will belong to Kazakhstan and the remainder to Russia.
On December 11, 2008, the EDB board considered applications by Tajikistan, Armenia and Belarus and approved their entry the bank. As a result of the additional issuance, the EDB’s charter capital will be increased by $15.6 million to be contributed by Tajikistan, Belarus and Armenia.
At present, the government of Tajikistan and the EDB are jointly working out a draft agreement on terms for the bank’s presence in the country.
