ADB grants millions of dollars to Tajikistan
By Kamila Aliyeva
The Asian Development Bank (ADB) plans to provide Tajikistan with about $160 million in 2018 for a number of projects, including the one on reducing risks from natural disasters, Tajik media outlets reported.
The debt burden of Tajikistan served as an excuse for some international financial institutions to return to financing Tajikistan on a non-reimbursable basis.
Earlier, ADB's permanent representative in Dushanbe Pradeep Srivastava said that this year the bank will allocate funds for Tajikistan only on a grant basis.
“The latest data show that Tajikistan will most likely not receive loans, but has the right to get financing exclusively in grants. This is only expectation. We will have official information over the next two weeks,” he said.
The ADB official explained that Tajikistan's debt obligations are unsustainable, and the country's category is likely to change.
As of the end of 2017, Tajikistan's external debt amounted to about $2.9 billion and reached 40.3 percent of GDP.
Tajikistan joined ADB in 1998. Tajikistan received ADB assistance only on a non-reimbursable basis in 2008-2015. ADB operations in Tajikistan focus on improved infrastructure, investment climate reforms, and improved food security.
ADB’s ongoing portfolio in Tajikistan in 2017 included 13 projects and one program amounting to $759 million, financed from 17 grants ($643 million) and four loans ($116 million).
Apart from energy and transport, ADB financing also focused on public sector management (6.7%); agriculture, natural resources, and rural development (6.6%); education (4.2%); and finance (2.5%). There were also 7 technical assistance grants totaling $13 million.
The Asian Development Bank was founded in 1966. The mission of the bank is to reduce poverty in the Asia-Pacific region (APR) through inclusive economic and environmentally sustainable growth, as well as regional integration. The head office of ADB is located in the capital of the Philippines - the city of Manila. The bank's shareholders are 67 countries, 48 of which are located in the Asia-Pacific region.
---
Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
Follow us on Twitter @AzerNewsAz