DUSHANBE, January 8, 2013, Asia-Plus — Tajik President Emomali Rahmon yesterday received Mr. Mr. Dimitris Tsitsiragos, Vice President, Eastern and Southern Europe, Central Asia, Middle East and North Africa, International Finance Corporation (IFC).
According to the Tajik president’s official website, the sides considered a broad range of issues related to cooperation between Tajikistan and the International Finance Corporation as well as support for socioeconomic development of Tajikistan.
The sides reportedly expressed satisfaction with increase in the rate of growth of gross domestic product (GDP) in Tajikistan. Tajikistan’s GDP rose 7.5 percent in a year to December 31, 2012 and the country’s 2012 year-end inflation stood at 6.8 percent.
Rahmon and Tsitsiragos reportedly pointed to the necessity of expansion of cooperation in supporting small and medium-sized enterprises in the country, processing of domestic raw materials, ensuring energy and food security, development of infrastructure and financial and legal structures for the purpose of improving the investment climate in Tajikistan.
The sides also discussed other issues being of mutual interests, the source said.
Similar issues figured in IFC vice-president’s discussions with Tajik Prime Minister that took place on the same day.
Subhiddin Muhiddinov, Senor Consultant, President’s Press Center says the sides, in particular, discussed further expansion of cooperation between Tajikistan and the IFC in sectors like financing, energy, transportation, agriculture, investment and infrastructure development.
The two also considered a broad range of issues related to increase in technical and consultative assistance provided by the IFC for implementation of projects aimed at mining operations as well as development of agribusiness and farm produce processing in Tajikistan, Muhiddinov said.
Mr. Dimitris Tsitsiragos leads IFC’s investments and advisory services across 52 countries with over 800 staff, and oversees an integrated strategy that aims to create jobs, plug infrastructure gaps, increase access to finance, and tackle climate change.
The International Finance Corporation (IFC) is an international financial institution which offers investment, advisory, and asset management services to encourage private sector development in developing countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C., United States. It was established in 1956 as the private sector arm of the World Bank Group to advance economic development by investing in strictly for-profit and commercial projects which reduce poverty and promote development. Since 2009, the IFC has focused on a set of development goals which its projects are expected to target. Its goals are to increase sustainable agriculture opportunities, improve health and education, increase access to financing for microfinance and business clients, advance infrastructure, help small businesses grow revenues, and invest in climate health.
Tajikistan became a member of IFC in 1994. IFC began operating in the country by pioneering advisory projects in 2004. Since 1997, IFC has invested $81 million to support 32 private sector projects in the financial sector, hydro power, retail, tourism and manufacturing sectors.
Advisory Services has become a cornerstone of IFC”s private sector development work in this frontier country. A significant portion of the program has been focused on the energy sector, but much has been accomplished in agribusiness and financial markets.
IFC works with private sector clients, government, and civil society to bring the benefit of global expertise to Tajikistan through its advisory services and selected investment projects. IFC also assists the Tajik government in furthering the nation’s development, especially efforts to develop the private sector.
