Nikolai Podguzov, Chairman of the EDB Management Board, informs President of Tajikistan Emomali Rakhmon of the start of construction of schools with instruction in Russian in April

09 March 2021

Dushanbe, 5 March 2021. Nikolai Podguzov, Chairman of the Management Board of the Eurasian Development Bank (EDB), invited President of Tajikistan Emomali Rakhmon to lay the foundation stone of the inaugural school with instruction in Russian in April 2021. Nikolai Podguzov and Emomali Rakhmon met in Dushanbe as part of the EDB delegation’s visit to Tajikistan.

As agreed by the Presidents of Russia Vladimir Putin and Tajikistan Emomali Rakhmon, an intergovernmental agreement to build schools with instruction in Russian in Dushanbe, Bokhtar, Kulyab, Tursunzade, and Khujand was signed in 2019. The EDB has been entrusted with the implementation of this project.

To date, the Bank has identified the optimal type of schools that would meet all safety and quality standards given the natural and climatic conditions in Tajikistan. Similar schools are being built in Grozny (Chechen Republic) where they have proven their effectiveness. The schools in Tajikistan will be equipped in line with up-to-date educational requirements at the level of new Russian schools. A school will have 1,224 children – 51 classes with 24 students each. In addition to classrooms, schools will have a sports complex, a swimming pool, an assembly hall, and a canteen.

Nikolai Podguzov expressed his great appreciation for the country’s leadership support and attention to the Bank’s operations and confidence that joint efforts would take cooperation between the EDB and Tajikistan to a new level.

During his visit, the Chairman of the EDB Management Board also met with First Deputy Prime Minister of Tajikistan Davlatali Said, Minister of Finance Faiziddin Sattor Qahhorzoda, and Minister of Education and Science Muhammadusuf Saidali Imomzoda. The EDB delegation accompanied by Sherali Olimovich Kabir, Minister of Industry and New Technologies of Tajikistan also visited the Rogun HPP and Tajik Aluminium Company (TALCO).

In 2020, the EDB showed a 2.3% increase in its current investment portfolio (to US $4.4 billion). The Bank has a functioning settlement and clearing infrastructure to service cross-border payments in national currencies using its correspondent accounts with the central (national) banks of the member countries. This helps to reduce dependence on third-country currencies and payment systems. As of 1 March 2021, 65 participants from all the Bank’s shareholding countries joined the EDB’s payment platform. These include major commercial banks, stock exchanges, depositories, and international financial institutions.

In 2020, the Bank sought to assist its partners and shareholders in overcoming the negative effects of the pandemic. In particular, it extended a US $50 million loan from the EFSD to Tajikistan to maintain the country’s financial sustainability. A US $3 million grant agreement is being prepared for signature to purchase mobile laboratories.

In 2020, the EDB Digital Initiative Fund established, with assistance from the Bank’s Representative Office in Tajikistan, a business contract with Smart City, an executive agency responsible for the digitalisation of Dushanbe. Smart City presented five projects, which were included by the Bank’s Directorate for Digital Initiatives into the register of new promising projects. Further cooperation in the implementation of these and other digital projects is being considered. 

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 by Russia and Kazakhstan and is headquartered in Almaty. Transport infrastructure, energy, chemical, mining, and mechanical engineering projects with a high integration effect account for the main part of the EDB’s portfolio.

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

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