By Aynur Karimova
The Asian Development Bank has adjusted its strategy for Tajikistan. Bank representative Rajesh Vasudevan told local Tajik media that funds will be spent on improving the investment climate, training young people, and improving the trade.
"In its new strategy, the ADB has decreased funding for projects in the field of transport and energy infrastructure, paying more attention to projects on climate change adaptation," he noted. "The ADB plans to decrease funding of energy projects in Tajikistan from 80 to 55 percent of total assistance."
Tajikistan's capital Dushanbe hosted its second consultative workshop on July 28 as part of the process on developing a new Country Partnership Strategy for 2016-2020.
Tajikistan joined the ADB in 1998 and to date, the ADB has approved a total of roughly $1.3 billion in concessional loans, grants, and technical assistance to the country. The ADB-Tajikistan partnership has promoted social development, upgraded and built new infrastructure, expanded agricultural production, and encouraged regional cooperation and trade under the CAREC Program.
According to the Tajik Finance Ministry, the ADB is one of the main donors and lenders to the country.
Since 1998, the volume of ADB financing in various sectors of the Tajik economy was over $1.3 billion. Most of the allocated funds are grants. From 2008 and on, the ADB has been providing financial assistance to Tajikistan exclusively on a free basis.
The bank mostly finances the projects in the fields of transport, energy, and irrigation, many of which are of regional importance.
The ADB, based in Manila, dedicates itself to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 of which are from the Asia-Pacific region.
Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova
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