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Tajikistan, EBRD mull cooperation

17 November 2014 17:38 (UTC+04:00)
Tajikistan, EBRD mull cooperation

By Aynur Jafarova

The growing role of the private sector in Tajikistan, a record year for the European Bank for Reconstruction and Development (EBRD) investment in the country and the new EBRD strategy for Tajikistan which is currently under preparation was high on the agenda of talks held between Tajik President Emomali Rahmon and EBRD President Suma Chakrabarti, who is on his first official visit to the country on November 17-18.

After the meeting with President Rahmon, Chakrabarti addressed a special session of the Consultative Council on the Investment Climate under the President of Tajikistan. In his speech, the EBRD president highlighted the bank’s commitment to the country and noted recent developments, including Tajikistan’s rise in the latest World Bank Doing Business report, reforms aimed at improving the investment climate and World Trade Organization membership.

As part of the visit Chakrabarti will also meet with the ministers of finance, energy and foreign affairs, the governor and the deputy governor of the National Bank of Tajikistan, representatives of the business, investor and diplomatic communities and international financial institutions, EBRD clients and representatives of civil society including women’s organizations.

The EBRD delegation will also visit the Nurek hydropower plant, meet with the local authorities in Khatlon province and participate in an energy sector roundtable.

Chakrabarti will sign financing agreements with two companies: the microfinance institution IMON International, which will use funds to increase lending to micro and small enterprises, and Schiever Tajikistan, which plans to open the first modern supermarket in the country under the Auchan brand.

The EBRD’s priorities in Tajikistan are support for the private and financial sectors and for infrastructure development. To date, the EBRD has invested about €360 million in Tajikistan.

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