DUSHANBE, March 20, 2009, Asia-Plus — Tajikistan has worked out a good economic program for mitigating effects of the financial crisis, visiting Asian Development Bank’s (ADB) Vice-President Xiaoyu Zhao told reporters yesterday after a meeting with President Emomali Rahmon.
“The Asian Development Bank is proud of having an opportunity to participate in implementation of programs and activities worked out by the government for overcoming difficulties against the background of the economic crisis,” the ADB official said.
Mr. Xiaoyu Zhao noted that his meetings with Tajikistan’s economic team and President Emomali Rahmon had been fruitful. “On the results of the meetings I gained the impression that Tajikistan’s economic team is very strong and the president himself is sure that the country will be able to overcome the economic difficulties,” he said, noting that the ADB is currently working with a number of donors and international organizations on working out a joint assistance to the country.
Mr. Xiaoyu Zhao added that the Asian Development Bank was also working on implementation of regional programs. According to him, electricity shortages, poor transport infrastructure and remittance decreases – all this may result in the economic crisis deepening. In this connection, the ADB provides for supporting the national budget, allocating term and additional loans for construction of roads and small hydropower plants. He also noted that the ADB has also provided assistance with construction of the power transmission line to Afghanistan and reconstruction of a 500kV switchyard in Norak hydroelectric power station (HPS).
The ADB official also noted that during the meetings with the economic team and President Rahmon, they discussed opportunities of providing additional funds for other projects
Mr. Xiaoyu Zhao noted that the ADB has cooperated with Tajikistan for already ten years and over that period, the Asian Development Bank has provided more than 500 million US dollars to Tajikistan due to the Asian Development Fund.
Tajikistan joined ADB in 1998. ADB has been supporting poverty reduction in the country through investments in infrastructure, agriculture and rural development, social sector, and regional cooperation. As of the end of 2008, Tajikistan received $372.50 million in loans, $33.65 million in technical assistance, and $97.27 million in grants. The investments have been accompanied by critical policy reforms and institutional development.
