In 2025, Tajikistan attracted a record $4.9 billion in sovereign financing. This became a significant achievement for the country and confirms the growing interest of international financial institutions in the republic’s economy. The funds are directed towards infrastructure development, implementation of reforms, and support for sustainable economic growth.
This is stated in the new report by the Eurasian Fund for Stabilization and Development (EFSD) “Sovereign Financing in the Eurasian Region: Regional Projects and Initiatives of International Financial Institutions” for 2026.
Main donors and sources of financing
The report emphasizes the importance of international financial institutions for Tajikistan’s economy. Among the largest donors providing financing are the World Bank (WB), Asian Development Bank (ADB), and Islamic Development Bank (IDB). These organizations support Tajikistan through various forms of financing, including investment loans, technical assistance, and stabilization financing.
Key projects and priority areas
The report “Sovereign Financing in the Eurasian Region: Regional Projects and Initiatives of International Financial Institutions” notes that one of the largest projects was the ADB Program.
It received $500 million for the second phase. This project aims to reform public administration, improve fiscal transparency, and enhance the efficiency of the public sector. The program includes measures such as the introduction of new methods of program budgeting, improvement of fiscal risk monitoring, and enhancement of state-owned enterprises management.
The main priorities for sovereign financing in 2025 were economic policy and transport infrastructure.
An important partner for Tajikistan in the fields of healthcare and education continues to be the Turkish Cooperation and Coordination Agency (TİKA). Since the beginning of its activities in Tajikistan, the agency has implemented about 500 projects aimed at developing key social sectors.
Climate financing – a priority for Tajikistan
In 2025, climate financing became one of the main priorities for Tajikistan. The country is actively working on adapting to climate change and developing renewable energy sources. International financial institutions continue to support Tajikistan in implementing projects aimed at reducing the impact of climate change and increasing economic resilience.
Projects in solar energy and other renewable energy sources are actively supported. Innovations are being introduced in agriculture, aimed at sustainable water resource use and improving agricultural practices considering changing climate conditions.
In 2025, $10.3 billion in financing was approved within the region, a significant portion of which is directed towards climate projects.
World Bank sustainable landscape management project
One of the significant climate projects is the World Bank’s Sustainable Landscape Management Project in Tajikistan under the RESILAND CA+ program. The project received $45 million in funding from the International Development Association (IDA). The funds are directed towards supporting sustainable landscape management, restoring natural resources, and implementing climate-oriented agricultural and pasture management practices.
As a result of the project, more than 20,000 hectares of land have been covered with agroforestry and other environmental practices aimed at increasing the resilience of rural areas to climate change and improving soil and water resource quality.
Major regional projects: Roghun HPP and CASA-1000
In 2025, Tajikistan also received funds for the implementation of two major energy projects – the construction of the Rogun Hydropower Plant and the CASA-1000 power transmission line.
The Roghun HPP project is one of the largest infrastructure projects in Central Asia. The construction of the dam and reservoir began in 2017, and the project’s full completion is expected by 2033. Once completed, the Rogun HPP will provide a capacity of 3,780 MW and improve access to reliable electricity for 10 million people. The project contributes to regional decarbonization as it will operate on renewable energy and helps reduce greenhouse gas emissions.
