DUSHANBE, April 21, Asia-Plus — State and prospects of further expansion of cooperation between Tajikistan and the European Bank for Reconstruction and Development (EBRD) were discussed on Monday at a meeting of President Emomali Rahmon within visiting EBRD delegation.
Speaking to reporters after a meeting with the president, Mr. Gonzalo Ramos, representing Spain and Mexico, noted that the aim of their visit to Tajikistan is to know more about the present situation in Tajikistan in order that further strategy of the Bank would meet the country’s needs. According to him, they were also interested in president’s vision of what the EBRD could do for Tajikistan. The president and his economic team briefed us on this,” Mr. Ramos said.
According to him, the EBRD last year funded nine projects for totaling $40 million aimed at microfinancing as well as supporting development of small and medium-sized enterprises (SMEs) and infrastructure in the country.
Noting that the EBRD is the financial institution funding projects aimed at development of private sector, Mr. Ramos stressed that to expand EBRD’s presence in the country it is necessary to consider measures to improve investment climate in the country, in order that “it would be more favorable for investors.”
Asked whether they discussed issues related to the Dushanbe company M&P, Mr. Ramos noted that the EBRD has funded part of that project. “However, the situation as a whole rather than funds provided by us drew our attention,” said he. “We keep track of information about of this situation because it is of important significance for investment situation in the country.”
He underlined the importance of creation of normal conditions for work of investors.
Commenting on possible priorities of further cooperation between the Bank and Tajikistan, the EBRD director for Central Asia, Mr. Masaru Honma, noted that the Bank will stay focused on microfinancing, agrarian sector, supporting development of small and medium-sized enterprises (SMEs) and infrastructure.
According to him President Rahmon asked them for raising volumes of financing 3-4 times. “It means that annual volume will amount to $100 million-$150 million,” said Mr. Honma, “We will try to do this, but creation of positive of conditions is needed for this. After that, it will be possible to reach this level within some three years. But is the problems remain unsolved, the annual amount of the Bank’s investments will remain at the level of $40 million.”
