DUSHANBE, October 21, 2010, Asia-Plus — A two-day international investment forum on agribusiness in Tajikistan concluded in Dushanbe on October 20.
According to the State Committee for Investments and State-owned Property Management (GosKomInvest), the conference brought together representatives from more than 200 international and local companies and organizations to discuss issues related to promoting restructuring and diversification of Tajikistan’s agrarian business.
The conference was held within the framework of the Phase II of the EBRD’s Tajik Agricultural Finance Framework (TAFF II) and IFC’s-Tajikistan Agribusiness Finance and Business Environment Project (IFC-TAFBEP) projects with coordination from GosKomInvest and the Chamber of Commerce and Industry of Tajikistan, the source said.
The main objective of the forum was in promoting expansion of cooperation of Tajikistan with international organizations and private companies interested in investing in the country’s agrarian sector and participating in Tajikistan’s agricultural exports/imports.
The European Union, in partnership with the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), launched the mentioned two projects last June. The two projects are an integral part of the EU Private Sector Development program with focus on agriculture. The projects will increase the sustainability of the Tajik agro-sector, create jobs and reduce poverty and they will provide improved access for farmers to financial products.
TAFF was set up by the EBRD in 2007 to support the restructuring and diversification of Tajik agricultural sector, involving a US$35 million lending program. The main objective of TAFF was to provide alternative finance to small and medium-sized farms and support the freedom to farm concept whilst fostering best farming practices. The EU has provided a €5.2 million grant to extend and expand TAFF II for the period of 2010-2012. The grant will support TAFF’s three pillars: increase credit to agriculture; rebuild value chains by fostering linkages between agro-businesses and farmers; and define agriculture and agri-business development strategies.
The Tajikistan Agribusiness Finance and Business Environment Project (IFC-TAFBEP), implemented by IFC, will improve the regulatory and policy environment for agriculture and access to finance through a focus on agri-leasing and equipment finance. IFC will provide advisory services to financial institutions in order to build capacity for agri-leasing, and will assist government agencies to implement reforms that benefit the agriculture sector. The Project budget is €1.5 million.
