Tajikistan attracts billions: who are the country’s top investors?

Tajikistan is currently implementing 82 state investment projects worth a total of US$4.5 billion, with nearly 97% of the funding coming from foreign sources, according to the State Committee on Investment and State Property Management (GosKomInvest).

Of the 82 active projects, 55 are funded through grants, 5 through loans, and 22 are supported by a combination of grants and loans.  Grants account for US$3.2 billion of the total, while loans make up US$1.2 billion.

The Tajik government contributes a modest 3.1% to the overall investment volume—about US$143.8 million—while local authorities, state enterprises, and jamoats account for just 0.1%, or US$5.8 million.

Top 10 international investors in Tajikistan

GosKomInvest also published a list of the top ten international institutions investing in Tajikistan, along with the size of their investments:

1. World Bank – US$1.698 billion
2. Asian Development Bank (ADB) – US$914.7 million
3. International Fund for Agricultural Development (IFAD) – US$698 million
4. European Bank for Reconstruction and Development (EBRD) – US$612.2 million
5. Islamic Development Bank (IsDB) – US$207.9 million
6. China – US$195 million
7. Asian Infrastructure Investment Bank (AIIB) – US$140.5 million
8. German Development Bank (KfW) – US$129.3 million
9. European Investment Bank (EIB) – US$114.8 million
10. OPEC Fund for International Development – US$80 million

Sectoral breakdown of investment

According to data of GosKomInvest, the bulk of the funds are being directed toward energy and transport infrastructure, which received US$1.6 billion and US$1.2 billion respectively during the first half of 2025. These sectors remain top investment priorities.

Other sectors receiving funding include:

• Education – US$426.1 million
• Public utilities – US$280.8 million
• Healthcare – US$228.2 million
• Agriculture – US$210.4 million

According to Sulton Rahimzoda, Chairman of the State Committee on Investment and State-owned Property Management, Tajikistan signed nine new grant and loan agreements with development partners in the first half of 2025.  These agreements, totaling $153.7 million, will fund seven projects in digitalization, irrigation, transportation, and healthcare.

A full list of active projects by region, including their funding volumes and implementation timelines, has been published on the committee’s website.