External assistance to Tajikistan exceeds $2.7bn
By Vusala Abbasova
Foreign financial assistance to Tajikistan has played significant role in its economic development, in particular promoting the development of industry, business, public utilities, and regional cooperation.
The country has received $2.7 billion in assistance from the donor-countries over the last thirteen years. Only in 2014, the amount of the external assistance to Tajikistan amounted to more than $183 million.
Chinese aid to Tajikistan made up approximately 38 percent of overall investments in 2002-2014, the State Committee on Investments and Management of the State Property of Tajikistan reported, according to the Asia-Plus.
China with capital investment of $1.040 billion has become the most active investor in Tajikistan over the past thirteen years.
The State Committee highlighted the most active donors for Tajikistan for this period, citing the European Union, which rendered more than $350 million in assistance (12.8 percent), the U.S. with around $340 million (12.4 percent), Japan with jmore than $272 million (10 percent), and Germany-more than $210 million (7.7 percent).
Russia was the biggest investor to Tajikistan among other CIS countries in this period, allotting $16 million or 5.8 percent of the total investments to the Central Asian country.
An official of the State Committee on Investments and Management of the State Property said that the importance of sustainable development requires even more active attraction of international funds into the country.
Tajikistan cooperates with the donor-countries, financial institutions, non-governmental organizations and funds to achieve this purpose, he added.
Tajikistan's main creditor is China, whose debt to the country amounted to $942 million as of July 1, 2015.
The total volume of Tajikistan's external debt amounted to $2.1 billion in this period, comprising 19.5 percent of the country’s GDP.
For the last decades, Tajikistan has held a plenty of reforms aimed at creating a favorable investment environment in the top priority areas of national economy.
There were signed and implemented more than 200 projects with the total cost of $2.13 billion under state investment projects implemented with support from the international finance organizations in 2002-2012.
The country received $1.614 billion in loan and $371.5 million in grant, while the government's contribution was $119.12 million and other income stood at $28.7 million.
The county plans to implement 120 projects, according to the Program on investments, grants and capital construction for 2014-2016 years. Some 39 of these projects with total cost of $1.3 billion are under realization.
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