SAINT-PETERSBURG, June 17, 2011, Asia-Plus /– The Eurasian Development Bank (EDB) is planning to allocate $200mln to Tajikistan for implementation of investment projects, Director of Analytical Department of the EDB Vladimir Yasinsky told the AP. At the moment the bank is considering opportunities for construction of a series of medium hydropower plants in Tajikistan.
“Perhaps, these projects will be implemented in the nearest time,” Mr. Yasinsky has said. “Tajikistan’s neighboring countries should not be concerned about the construction of these facilities since they won’t affect the river flow.”
As for the distribution of EDB’s credit resources Mr. Yasinsky said that only 1% is allocated for implementation of investment projects in Tajikistan, nearly 50% for Russia, at least 40% for Kazakhstan and 10% for Belarus.
EDB allocated funds for implementation of two ongoing investment projects in Tajikistan. The first project is the construction of a spinning mill in Matcha region of Sughd District (CJSC “Olim-Textiles”). The total cost of the project is $22mln 570.000.
According to Mr. Yasinsky, this project can also be developed further and the future spinning mill will export its production. The second project – $3mln allocated to Tajprombank. This credit was divided into three tranches that will be allocated within one year with 12% of interest rate.
Speaking about negative impact of the global financial crisis Mr. Yasinsky said that the crisis did not affect the activity of the bank in 2010.
“Quite the contrary, we have increased our credit portfolio up to $2.5bln and did not reduce the number of investments thanks to anti-crisis measures and programs which were approved by the bank’s shareholders,” he said.
