DUSHANBE, February 25, 2010, Asia-Plus — Tajikistan has been affected by the global financial crisis less than other countries, Ms. Shigeko Hattori, Director of the Asian Development Bank (ADB) Regional Cooperation Division, remarked at a news conference in Dushanbe on February 23.
The news conference was devoted to the regional cooperation in Central Asia, in particular, the Central Asia Regional Economic Cooperation (CAREC) Program.
According to Ms. Hattori, the crisis has affect Tajikistan less than other countries because the country does not have so large assets that could become non-operative as a result of the crisis. Real effects of the crisis resulted in economic slowdown, following decrease in labor migrants’ remittances to the country.
Ms. Hattori noted that the crisis was a good period for assessment of the real economic situation. Real shortcomings in economy and budgetary sphere are being revealed during the crisis period and it is possible to review the economic structure and determine measures that should be taken.
The ADB official expressed satisfaction with measures taken by the Tajik Government to mitigate effects of the crisis, in particular, easing the procedure of launch of new enterprises, including introduction of the of “One-stop-shop” (OSS) principle when state registration of enterprises and entrepreneurs simplification. “These measures will help ensure a certain economic growth in the country,” Ms. Hattori said.
She noted that Tajikistan was a major beneficiary of the CAREC program, which is focused on financing infrastructure projects and improving the region”s policy environment in the priority areas of transport, energy, and trade facilitation. There are four large ongoing investment projects funded under the CAREC Program in Tajikistan for a total of more than $180 million. The projects are: the rehabilitation of the Dushanbe-Kyrgyz border road, customs modernization, construction of power transmission line between Tajikistan and Afghanistan, and reconstruction of 500 kV switchyard in Norak HPP.
We will recall that an Asian Development Bank (ADB) delegation representing the CAREC program, comprising Ms. Shigeko Hattori, Director of ADB”s Regional Cooperation Division, and Mr. Ushio Tashibu, Regional Cooperation Specialist, visited Tajikistan on February 22-23. During their stay here, the delegation met with senior government officials to discuss regional economic integration and prospects for Central Asia; CAREC transport, energy and trade strategies; and preparations for the upcoming CAREC Senior Officials Meeting scheduled for April in Manila
