DUSHANBE. June 3. “Asia-Plus” — Yesterday, June 2, the European Union, in partnership with the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), announced the official launch of two projects which will support the restructuring of Tajikistan’s agricultural sector. These are Phase II of the EBRD’s Tajik Agricultural Finance Framework (TAFF II) and IFC’s-Tajikistan Agribusiness Finance and Business Environment Project (IFC-TAFBEP).
The projects will increase the sustainability of the Tajik agro-sector, Head of the EU Delegation to Tajikistan Eduard Auer told the AP.
“ The EU has provided a EUR 5.2 million grant to extend and expand TAFF II for the period of 2010-2012. IFC will provide advisory services to financial institutions in order to build capacity for agri-leasing, and will assist government agencies to implement reforms that benefit the agriculture sector. The Project budget is 1,5 M EUR,” he said.
The two projects are an integral part of the EU Private Sector Development programme with focus on agriculture, Mr Auer has said.
“The projects will increase the sustainability of the Tajik agro-sector, create jobs and reduce poverty and they will provide improved access for farmers to financial products,” he added.
Meanwhile, Mr. Rolf Behrndt, IFC’s Regional Business Line Leader for Access to Finance, said that “This project continues IFC”s work in Tajikistan to improve access to finance for Tajik farmers and should result in new and efficient machinery being available for Tajik farmers. The work on the business enabling environment will remove constraints and streamline barriers for agribusiness.”
The Tajikistan Agribusiness Finance and Business Environment Project (IFC-TAFBEP), implemented by IFC, will improve the regulatory and policy environment for agriculture and access to finance through a focus on agri-leasing and equipment finance. IFC will provide advisory services to financial institutions in order to build capacity for agri-leasing, and will assist government agencies to implement reforms that benefit the agriculture sector.
