Tajikistan will issue its first sovereign green bonds, a landmark step toward financing sustainable infrastructure and climate resilience in the country, officials announced at the panel session “Climate Finance and Carbon Markets” during the Dushanbe Invest–2025 International Investment Forum.
Opening the session, Yusuf Majidi, First Deputy Minister of Finance of Tajikistan, emphasized that sustainable finance and carbon markets are key tools for long-term economic growth and climate resilience. He noted that over 90% of the country’s electricity is already generated from renewable sources, primarily hydroelectricity, and outlined priorities for attracting investment, including strengthening the regulatory framework, boosting regional and international cooperation, and creating favorable conditions for the private sector.
Strategic insights from international experts
Yevgeniya Klochkova, Head of the Sustainable Development Center at the Eurasian Development Bank (EDB), highlighted the bank’s strategies for building a green investment portfolio and stressed the importance of a comprehensive approach to climate projects in Central Asia.
Panelists discussed expanding access to climate investments, developing transparent carbon markets, implementing national emission accounting systems, and financing climate adaptation and green infrastructure projects.
First green bond auction
The forum announced that the first green bond auction will be held on October 17, 2025, with a total volume of 200 million somonis over five years, carrying an annual coupon rate of 13%. Proceeds from the auction will be directed to infrastructure projects aimed at reducing emissions and enhancing climate resilience.
International participation
The session included contributions from international experts, including Ainour Zhakupova (Tajikistan Financial Center), Holger Wiefel (EBRD Tajikistan), Da Min Chung (EBRD), Murat Seitnepesov (Great Caspian Association), Oliver Herman (Climate and Company), and Elizabeth Turk (UN ECE). The session was moderated by Rostislav Vrbenski, Head of AvantGarde Ideas and former UNDP Director in Tajikistan.
Dushanbe Invest–2025 served as a key platform for strengthening international cooperation and reaffirmed Tajikistan’s growing role in promoting green transformation in Central Asia.
