DUSAHNBE, July 20, Asia-Plus — Development Bank of Kazakhstan (DBK) is providing US$26 million for constructing a textiles factory in the Tajik northern district of Kuhistoni Mastchoh and further US$5 million for supplying mineral fertilizers to Tajikistan, the Tajik central bank head Murodali Alimardonov remarked at a news conference in Dushanbe on July 19.
According to him, Tajikistan has submitted several investment projects for consideration to the Eurasian Development Bank (EADB). Mr. Alimardonov noted that at present experts from the EADB were studying regional projects aimed at enhancement of hydropower, processing of farm produce and development of mining industry.
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The EADB has been operational since June 27. Russia and Kazakhstan signed an agreement to create the bank January 12. The bank has authorized capital of $1.5 billion, US$550,000 million of which belong to Kazakhstan and US$1 billion to Russia. The bank is based in the Kazakh city of Almaty and has a branch in St. Petersburg.
Russian finance experts hold that authorized capital could be increased by the board. They assume that other countries, most likely member nations of the Eurasian Economic Community (EAEC) will join the bank soon. The objective is to increase bank”s assets to $10 billion in the next 3-4 years, according to them.
