DUSHANBE, July 4 2016, Asia-Plus — Tajikistan’s central bank is once again pleading for an international bailout as the country’s banking sector remains mired in an existential crisis.
At a meeting with a visiting delegation of the European Bank for Reconstruction and Development (EBRD) Board of Directors, Jamoliddin Nouraliyev, First Deputy Chairman of the National Bank of Tajikistan (NBT) and EBRD Governor, on July 2 appealed for assistance to the country’s systemically important banks.
According to a national bank statement, Nouraliyev noted that Tajikistan today needs EBRD’s assistance for carrying out deep reforms in the country’s lending sector.
Nouraliyev reportedly briefed the EBRD representatives on the current macroeconomic and financial indicators of Tajikistan and activities of the country’s banking sector.
He appreciated the Bank’s support and technical assistance. “However, we today still need the EBRD assistance for carrying out point and deep reforms,” Tajik official said, calling on representatives of the EBRD Board of Directors for close and fruitful collaboration.
“It is necessary to carry out remedial work in some of the lending institutions,” Nouraliyev said, according to the NBT statement. “I urge the executive directors of the EBRD during their coming board meetings to support proposals from the National Bank.”
Nouraliyev did not specify what those proposals were, but given that Tajikistan suffers from chronic liquidity problems.
Mr. Zbigniew Hockuba, representing Poland, Bulgaria and Albania, noted that the Bank was currently implementing numerous projects aimed at promoting development of Tajikistan’s infrastructure, creation of new jobs, and strengthening of corporate management in lending institutions of Tajikistan.
He stressed that representatives of the EBRD Board of Directors would take efforts to promote expansion of cooperation with Tajikistan.
According to the EBRD Dushanbe Resident Office, the visiting EBRD Board participants include: Anthony Bartzokas, representing Greece and Portugal; Raphael Bello, representing France; Zbigniew Hockuba, representing Poland, Bulgaria and Albania; Johannes Koskinen, representing Finland, Norway and Latvia; Antonio Oporto, representing Spain and Mexico; Johannes Seiringer, representing Austria, Israel, Cyprus, Malta, Kazakhstan and Bosnia and Herzegovina; and Frans Weekers, representing Netherlands, Mongolia, FYR Macedonia, Armenia and China.
Denis Morozov, Director for Russian Federation, Belarus and Tajikistan, is reportedly host director. Natasha Khanjenkova, EBRD Managing Director for Turkey and Central Asia, heads a group of senior Bank management representatives who joined the visit together with the Board Directors.
