EDB Opened Representative Office in Tajikistan
Today, the opening ceremony of the EDB representative office was held in Dushanbe. This body will represent the Bank’s interests in Tajikistan, and its main functions will be to maintain partnerships with investors, prepare and implement investment projects in line with the Bank’s objectives, and interact with the governmental bodies of Tajikistan as member state of the EDB and international organisations accredited in Dushanbe.
“The opening of the Bank’s representative office in Dushanbe marks a milestone between preparatory work and some critical steps required for securing the Bank’s presence in one more member country, and the actual beginning of its operation in that country”, said Igor Finogenov, Chairman of the EDB Executive Board.
According to Finogenov, the areas and priorities of the Bank’s activity in Tajikistan are all seen clearly. These include, first of all, financing of investment projects which assist sustainable economic development and have a powerful multiplier effect and potential for integration, the latter being understood as increasing trade, mutual investments and industrial co-operation with other member states. The EDB is expected to secure qualitative structural changes in Tajikistan’s economy by assisting its diversification and boosting the output of competitive, high-value added products. The Bank will implement a programme of technical assistance to Tajik companies and organisations as part of its efforts to promote international co-operation and regional integration in Eurasia.
Actually, the EDB already has certain practical results in Tajikistan. Particularly, the Executive Board has approved a 12-year, $22.6-million loan for Olim-Textile to construct a modern spinning mill.
The Chairman of the EDB Executive Board appointed Yerkanat Galiyev as head of the representative office in Dushanbe. He will manage day-to-day operation and report directly to Kambar Shalgimbayev, Managing Director for Projects and Deputy Chairman of the Executive Board.
Background
Yerkanat Galiyev was born in 1958 in Almaty. He is a citizen of the Republic of Kazakhstan. In 1984 he graduated from the Almaty Institute of the People’s Economy (Finance and Credit), and in 1984-2001 held various posts in pubic and private banks in Kazakhstan. Galiyev was the Director of the Almaty Representative Office and Director of the Administrative Department of the Development Bank of Kazakhstan in 2002-2006; Deputy Director of the Almaty Branch of the State Pension Payment Centre in 2006-2007; and Department Director of Tsesna Corporation in 2007-2008.