EDB and the Government of Tajikistan discuss future cooperation
Dushanbe, 5 August 2016. Dmitry Pankin, Chairman of the Management Board at Eurasian Development Bank (EDB), met with Kokhir Rasulzoda, Prime Minister of Tajikistan, and Abdusala Kurboniyon, Minister of Finance of Tajikistan. The meetings were part of the head of EDB's working visit to Dushanbe on 3-5 August 2016. The sides exchanged opinions on the important issues and possible cooperation in the financial, banking and other spheres.
They focused specifically on the previously signed project agreements and discussed potential investment projects in Tajikistan, which may be a priority. These include, in particular, the rehabilitation of the Nurek hydropower plant. The full upgrade of this country’s largest hydropower facility will require over US $600 million. The Tajik government is conducting negotiations with international financial institutions, including EDB, to attract investment in the project.
In addition, the sides discussed the financial credit to Tajikistan for the support of the public budget. The Council of the Eurasian Fund for Stabilisation and Development had previously approved a US $40 million credit for the country, to be provided in two US $20 million tranches. The first tranche will be extended in late August or early September 2016. The head of EDB pointed out that the financial credit was an important tool in supporting economic reforms promoted by the Tajik government.
The sides also discussed the banking sector and state-run enterprises, the relationships between Tajikistan and international financial institutions and their coordination, and possible investment projects in the private sector. It was stated at the meetings that Tajikistan was interested in closer cooperation with EDB, which promotes economic growth in the country and supports its private sector.
Additional Information
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
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