DUSHANBE, March 25, 2010, Asia-Plus — The Government of Tajikistan and the OPEC Fund for International Development (OFID) have signed a loan agreement for 13 million U.S. dollars, according to the Tajik Embassy in Vienna.
The loan agreement was inked by Tajik Deputy Minister of Finance Shavkat Sohibov and the OFID Director General Suleiman J. Al-Herbish in Vienna on March 23.
The amount of this loan is allocated for co-financing a vital project in the transport sector, namely; the construction of the road Kulob-Qalai Khumb, the source said.
We will recall that the Government of Tajikistan and the Islamic Development Bank (IBD) signed a loan agreement for 20 million U.S. dollars on July 28, 2009. The amount of this preferential loan given for 25 years is allocated for co-financing the project for construction of the road from Kulob to Qalai Khumb.
Established by the member states of the Organization of the Petroleum Exporting Countries (OPEC) in 1976, the OPEC Fund for International Development (OFID), with headquarters in Vienna, is a multilateral development finance institution. Its objective is to reinforce financial cooperation between OPEC member nations and other developing countries, by providing financial support to the latter for their socioeconomic development. The resources of OFID are also used to provide grants for food aid, technical assistance, research and similar intellectual activities. OFID”s resources consist of voluntary contributions made by OPEC member nations and the accumulated reserves derived from the institution”s various operations.
