Tajikistan and the Eurasian Development Bank (EDB) have signed an investment loan agreement on allocation of 32 million US dollars from the Eurasian Fund for Stabilization and Development (EFSD) for rehabilitation of the irrigation system in Zafarobod district, Tajikistan’s Sughd province.
According to the Ministry of Finance of Tajikistan, the document was inked by Tajik Finance Minister Faiziddin Qahhorzoda and EFSD Director Andrey Shirokov during an official visit of Tajik President Emomali Rahmon to Russia on November 21-22.
The document reportedly provides for financing the project aimed at rehabilitation of the irrigation system in order to increase the capacity of irrigation systems in Sughd’s Zafarobod district.
The project is designed for six years (2024-2029).
The Eurasian Fund for Stabilization and Development (the former EURASEC Anti-crisis Fund) is an international financial institution established by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan on June 9, 2009 with the goals to assist its member states in overcoming the consequences of global financial crisis, to ensure their long-run economic stability and to foster economic integration of EFSD member-countries.
The Fund assists member states with the following instruments: financial credits, available to governments only; investment loans, provided either to EFSD member nations or to companies implementing interstate and national investment projects; and grants to finance government programs in social sector.
EFSD Resources Manager coordinates its activities with other international financial institutions and donor clubs.
